$8,301 Closing Credit*
$699,000
4 Beds
•2 Full Baths, 1 Partial
Listing Office: COMPASS NEW JERSEY, LLC
Is Parsippany-Troy Hills Township, 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-Troy Hills Township has remained a Seller's Market.
Key Takeaway
Parsippany-Troy Hills Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parsippany-Troy Hills Township, NJ
How much do homes in Parsippany-Troy Hills Township, NJ cost?
Median Sold Price
$650,666
$365/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$79,766(+14.0%)
Key Takeaway
Homes in Parsippany-Troy Hills Township have sold for 14% more than they did a year ago.
Summary: The median home sold price in Parsippany-Troy Hills Township was $650,666 in November 2024, up 14% from last year, and the median price per square foot was $365.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $240K | +17.1% |
| 2 Bedrooms | $425K | $500.5K | +17.8% |
| 3 Bedrooms | $535K | $588K | +9.9% |
| 4 Bedrooms | $665K | $725K | +9.0% |
| 5+ Bedrooms | $860K | $847.5K | -1.5% |
Summary: Parsippany-Troy Hills Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 9%, and 5+ bedroom homes decreased by 1.5%.
Median Sold Price Compared To Nearby Cities
| Lake Hiawatha | $380.5K | $507.5K | +33.4% |
| Mountain Lakes | $957K | $1.1M | +14.9% |
| Parsippany-Troy Hills Township | $570.9K | $650.6K | +14.0% |
| Parsippany | $615K | $683.5K | +11.1% |
| Boonton | $615K | $653K | +6.2% |
Housing Supply in Parsippany-Troy Hills Township, NJ
How many homes are available in Parsippany-Troy Hills Township, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 142 | 136 | -4.2% |
Summary: The Parsippany-Troy Hills Township real estate market had 136 homes for sale in November 2024, a 4.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 9 | -10.0% |
| 2 Bedrooms | 24 | 24 | 0.0% |
| 3 Bedrooms | 40 | 44 | +10.0% |
| 4 Bedrooms | 49 | 44 | -10.2% |
| 5+ Bedrooms | 19 | 15 | -21.1% |
Summary: The Parsippany-Troy Hills Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes decreased by 21.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 34 | 35 | +2.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parsippany-Troy Hills Township, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in Parsippany-Troy Hills Township in November 2024, up by 2.9% month-over-month. Of the 35 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Parsippany-Troy Hills Township, NJ
How long does it take to sell a home in Parsippany-Troy Hills Township, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 24 Days | +54.8% |
Summary: Homes in Parsippany-Troy Hills Township had an average of 24 days on market in Nov 2024, up by 54.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Parsippany-Troy Hills Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 35 homes were sold in Parsippany-Troy Hills Township; 3% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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