$5,807 Closing Credit*
$489,000
3 Beds
•2 Full Baths
Karen Hug, Listing Office: Realty Executives Exceptional Realtors-Pompton Plains
Is Oak Ridge, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Oak Ridge has remained a Seller's Market.
Key Takeaway
Oak Ridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oak Ridge, NJ
How much do homes in Oak Ridge, NJ cost?
Median Sold Price
$479,000
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$64,000(+15.4%)
Key Takeaway
Homes in Oak Ridge have sold for 15.4% more than they did a year ago.
Summary: The median home sold price in Oak Ridge was $479,000 in October 2024, up 15.4% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $270K | +31.7% |
| 2 Bedrooms | $317.5K | $324.5K | +2.2% |
| 3 Bedrooms | $415K | $487K | +17.3% |
| 4 Bedrooms | $550K | $640K | +16.4% |
| 5+ Bedrooms | $627.5K | $450K | -28.3% |
Summary: Oak Ridge housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.7%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 17.3%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes decreased by 28.3%.
Median Sold Price Compared To Nearby Cities
| Newfoundland | $467.5K | $824.5K | +76.4% |
| West Milford Township | $371K | $430K | +15.9% |
| Oak Ridge | $415K | $479K | +15.4% |
| Jefferson Township | $416K | $465K | +11.8% |
| Lake Hopatcong | $440K | $461.2K | +4.8% |
Housing Supply in Oak Ridge, NJ
How many homes are available in Oak Ridge, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 53 | 55 | +3.8% |
Summary: The Oak Ridge real estate market had 55 homes for sale in October 2024, a 3.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 20 | 20 | 0.0% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Oak Ridge housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oak Ridge, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Oak Ridge in October 2024, down by 16.7% month-over-month. Of the 10 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Oak Ridge, NJ
We’re sorry, we don't have information for this market at the moment
