$5,688 Closing Credit*
$479,000
4 Beds
•2 Full Baths
Zina Smajlaj, Listing Office: Berkshire Hathaway Home Services Merendino Realty
Is Oakland, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Oakland has remained a Seller's Market.
Key Takeaway
Oakland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakland, NJ
How much do homes in Oakland, NJ cost?
Median Sold Price
$632,000
-
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$3,000(-0.5%)
Key Takeaway
The sold price of homes in Oakland has remained the same since last year.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113K | $290K | +156.6% |
| 2 Bedrooms | $475K | $490K | +3.2% |
| 3 Bedrooms | $620K | $627K | +1.1% |
| 4 Bedrooms | $695K | $757.5K | +9.0% |
| 5+ Bedrooms | $500K | $1.0M | +103.0% |
Summary: Oakland housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 156.6%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 103%.
Median Sold Price Compared To Nearby Cities
| Pompton Lakes | $450K | $500K | +11.1% |
| Wanaque | $437.4K | $455K | +4.0% |
| Oakland | $635K | $632K | -0.5% |
| Mahwah Township | $605K | $584.9K | -3.3% |
Housing Supply in Oakland, NJ
How many homes are available in Oakland, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 46 | 45 | -2.2% |
Summary: The Oakland real estate market had 45 homes for sale in November 2024, a 2.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 21 | 19 | -9.5% |
| 4 Bedrooms | 19 | 17 | -10.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Oakland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Oakland in November 2024, up by 50.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 22% were sold at asking, and 67% were sold over asking.
Days on Market for Oakland, NJ
We’re sorry, we don't have information for this market at the moment
