$7,101 Closing Credit*
$598,000
4 Beds
•2 Full Baths
Claudia Brombauer, Listing Office: Signature Realty NJ LLC
Is Passaic County, 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, Passaic County has remained a Seller's Market.
Key Takeaway
Passaic County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Passaic County, NJ
How much do homes in Passaic County, NJ cost?
Median Sold Price
$525,000
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$50,000(+10.5%)
Key Takeaway
Homes in Passaic County have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in Passaic County was $525,000 in October 2024, up 10.5% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $280K | +16.7% |
| 2 Bedrooms | $375.9K | $425K | +13.0% |
| 3 Bedrooms | $479.2K | $531.3K | +10.9% |
| 4 Bedrooms | $566.1K | $640K | +13.0% |
| 5+ Bedrooms | $705K | $815K | +15.6% |
Summary: Passaic County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Counties
| Essex County | $573.1K | $645.5K | +12.6% |
| Morris County | $598.2K | $663.1K | +10.9% |
| Rockland County | $587.1K | $650.4K | +10.8% |
| Passaic County | $475K | $525K | +10.5% |
| Bergen County | $613.9K | $665K | +8.3% |
Housing Supply in Passaic County, NJ
How many homes are available in Passaic County, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,190 | 1,402 | +17.8% |
Summary: The Passaic County real estate market had 1,402 homes for sale in October 2024, a 17.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 50 | 58 | +16.0% |
| 2 Bedrooms | 196 | 243 | +24.0% |
| 3 Bedrooms | 386 | 421 | +9.1% |
| 4 Bedrooms | 328 | 384 | +17.1% |
| 5+ Bedrooms | 230 | 296 | +28.7% |
Summary: The Passaic County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16%, 2 bedroom homes increased by 24%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 28.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 202 | 237 | +17.3% |
Asking Price vs. Sold Price
60 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
152 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Passaic County, you could pay more than the asking price. 64.1% of homes here sold above asking price last month.
Summary: A total of 237 homes were sold or pending in Passaic County in October 2024, up by 17.3% month-over-month. Of the 237 sold homes, 25% were sold under asking, 11% were sold at asking, and 64% were sold over asking.
Days on Market for Passaic County, NJ
How long does it take to sell a home in Passaic County, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 24 Days | +32.6% |
Summary: Homes in Passaic County had an average of 24 days on market in Oct 2024, up by 32.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Passaic County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 237 homes were sold in Passaic County; 1% 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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