$5,641 Closing Credit*
$475,000
3 Beds
•2 Full Baths
Listing Office: KELLER WILLIAMS TOWNE SQUARE REAL
Is Rockaway, 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, Rockaway has remained a Seller's Market.
Key Takeaway
Rockaway is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rockaway, NJ
How much do homes in Rockaway, NJ cost?
Median Sold Price
$510,000
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$60,000(+13.3%)
Key Takeaway
Homes in Rockaway have sold for 13.3% more than they did a year ago.
Summary: The median home sold price in Rockaway was $510,000 in October 2024, up 13.3% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $348.1K | +12.3% |
| 2 Bedrooms | $397.5K | $435K | +9.4% |
| 3 Bedrooms | $431K | $511K | +18.6% |
| 4 Bedrooms | $550K | $650K | +18.2% |
| 5+ Bedrooms | $662.5K | $802.5K | +21.1% |
Summary: Rockaway housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 18.6%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 21.1%.
Median Sold Price Compared To Nearby Cities
| Rockaway Township | $450K | $515K | +14.4% |
| Rockaway | $450K | $510K | +13.3% |
| Denville Township | $562.5K | $589.5K | +4.8% |
| Denville | $580K | $589K | +1.6% |
Housing Supply in Rockaway, NJ
How many homes are available in Rockaway, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 106 | 97 | -8.5% |
Summary: The Rockaway real estate market had 97 homes for sale in October 2024, a 8.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 8 | 0.0% |
| 2 Bedrooms | 32 | 31 | -3.1% |
| 3 Bedrooms | 45 | 31 | -31.1% |
| 4 Bedrooms | 15 | 23 | +53.3% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Rockaway 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 3.1%, 3 bedroom homes decreased by 31.1%, 4 bedroom homes increased by 53.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 28 | -15.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rockaway, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in Rockaway in October 2024, down by 15.2% month-over-month. Of the 28 sold homes, 7% were sold under asking, 21% were sold at asking, and 71% were sold over asking.
Days on Market for Rockaway, NJ
How long does it take to sell a home in Rockaway, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Rockaway are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 28 homes were sold in Rockaway; 4% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.