$7,113 Closing Credit*
$599,000
1,652 SqFt
3 Beds
•2 Full Baths
Listing Office: WEICHERT REALTORS
Is Parsippany, 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, 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
$701,500
$371/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$101,500(+16.9%)
Key Takeaway
Homes in Parsippany have sold for 16.9% more than they did a year ago.
Summary: The median home sold price in Parsippany was $701,500 in October 2024, up 16.9% from last year, and the median price per square foot was $371.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $222.5K | +6.0% |
| 2 Bedrooms | $475K | $502.5K | +5.8% |
| 3 Bedrooms | $540K | $585.5K | +8.4% |
| 4 Bedrooms | $685K | $726K | +6.0% |
| 5+ Bedrooms | $731K | $847.5K | +15.9% |
Summary: Parsippany housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 15.9%.
Median Sold Price Compared To Nearby Cities
| Lake Hiawatha | $390.5K | $490K | +25.5% |
| Montville Township | $694.5K | $821K | +18.2% |
| Parsippany | $600K | $701.5K | +16.9% |
| Parsippany-Troy Hills Township | $564.5K | $655K | +16.0% |
| Mountain Lakes | $953.5K | $1.1M | +15.4% |
Housing Supply in Parsippany, NJ
How many homes are available in Parsippany, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 65 | 64 | -1.5% |
Summary: The Parsippany real estate market had 64 homes for sale in October 2024, a 1.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 9 | 6 | -33.3% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 30 | 31 | +3.3% |
| 5+ Bedrooms | 12 | 10 | -16.7% |
Summary: The Parsippany 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 decreased by 33.3%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 15 | -31.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parsippany, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Parsippany in October 2024, down by 31.8% month-over-month. Of the 15 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% 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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