$5,938 Closing Credit*
$500,000
3 Beds
•2 Full Baths
Listing Office: COMPASS OF NEW JERSEY
Is Parsippany, 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, Parsippany has remained a Seller's Market.
Key Takeaway
Parsippany is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parsippany, NJ
How much do homes in Parsippany, NJ cost?
Median Sold Price
$683,500
$354/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$68,500(+11.1%)
Key Takeaway
Homes in Parsippany have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in Parsippany was $683,500 in November 2024, up 11.1% from last year, and the median price per square foot was $354.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $240K | +14.3% |
| 2 Bedrooms | $475K | $505K | +6.3% |
| 3 Bedrooms | $535K | $615K | +15.0% |
| 4 Bedrooms | $686K | $710K | +3.5% |
| 5+ Bedrooms | $769.9K | $847.5K | +10.1% |
Summary: Parsippany housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 10.1%.
Median Sold Price Compared To Nearby Cities
| Lake Hiawatha | $380.5K | $507.5K | +33.4% |
| Montville Township | $699K | $821K | +17.5% |
| Mountain Lakes | $957K | $1.1M | +14.9% |
| Parsippany-Troy Hills Township | $570.9K | $650.6K | +14.0% |
| Parsippany | $615K | $683.5K | +11.1% |
Housing Supply in Parsippany, NJ
How many homes are available in Parsippany, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 59 | 56 | -5.1% |
Summary: The Parsippany real estate market had 56 homes for sale in November 2024, a 5.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 29 | 27 | -6.9% |
| 5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The Parsippany housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 14 | -22.2% |
Asking Price vs. Sold Price
6 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 Parsippany, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Parsippany in November 2024, down by 22.2% month-over-month. Of the 14 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.
Days on Market for Parsippany, NJ
We’re sorry, we don't have information for this market at the moment
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