$10,000 Closing Credit*
$1,500,000
5 Beds
•3 Full Baths, 1 Partial
Valentina Aved, Listing Office: TBR Group, LLC
Is Paramus, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Paramus was a Seller's Market.
Key Takeaway
Paramus is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Paramus, NJ
How much do homes in Paramus, NJ cost?
Median Sold Price
$887,500
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$47,500(+5.7%)
Key Takeaway
Homes in Paramus have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Paramus was $887,500 in November 2024, up 5.7% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $495K | - | N/A |
| 3 Bedrooms | $791.8K | $880K | +11.1% |
| 4 Bedrooms | $840K | $895K | +6.5% |
| 5+ Bedrooms | $1.2M | $1.1M | -4.8% |
Summary: Paramus housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Fair Lawn | $580K | $628.5K | +8.4% |
| Rochelle Park | $517.5K | $550K | +6.3% |
| Paramus | $840K | $887.5K | +5.7% |
Housing Supply in Paramus, NJ
How many homes are available in Paramus, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 61 | +29.8% |
Summary: The Paramus real estate market had 61 homes for sale in November 2024, a 29.8% increase 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 12 | 14 | +16.7% |
| 4 Bedrooms | 15 | 18 | +20.0% |
| 5+ Bedrooms | 19 | 28 | +47.4% |
Summary: The Paramus 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 remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 47.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Paramus, 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 Paramus in November 2024, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Paramus, NJ
We’re sorry, we don't have information for this market at the moment
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