$6,530 Closing Credit*
$549,900
3 Beds
•2 Full Baths
Valerie Tramontozzi, Listing Office: Keller Williams Prosperity
Is Oakland, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Oakland was a Seller's Market.
Key Takeaway
Oakland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Oakland, NJ
How much do homes in Oakland, NJ cost?
Median Sold Price
$634,750
-
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$4,750(+0.8%)
Key Takeaway
Homes in Oakland have sold for 0.8% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113K | $290K | +156.6% |
| 2 Bedrooms | $465K | $490K | +5.4% |
| 3 Bedrooms | $620K | $620K | 0.0% |
| 4 Bedrooms | $712.5K | $750K | +5.3% |
| 5+ Bedrooms | $500K | $1.0M | +103.0% |
Summary: Oakland housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 156.6%, 2 bedroom homes increased by 5.4%, 3 bedroom homes did not change, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 103%.
Median Sold Price Compared To Nearby Cities
| Franklin Lakes | $1.0M | $1.2M | +9.2% |
| Pompton Lakes | $450K | $485K | +7.8% |
| Wanaque | $428K | $455K | +6.3% |
| Oakland | $630K | $634.7K | +0.8% |
| Mahwah Township | $600K | $581.4K | -3.1% |
Housing Supply in Oakland, NJ
How many homes are available in Oakland, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 48 | +14.3% |
Summary: The Oakland real estate market had 48 homes for sale in October 2024, a 14.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 21 | 22 | +4.8% |
| 4 Bedrooms | 16 | 21 | +31.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Oakland 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 increased by 4.8%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 6 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 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 6 homes were sold or pending in Oakland in October 2024, down by 50.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% 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
