$4,156 Closing Credit*
$350,000
3 Beds
•1 Full Bath
Listing Office: WEICHERT REALTORS
Is Rockaway Township, 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 Township has remained a Seller's Market.
Key Takeaway
Rockaway Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rockaway Township, NJ
How much do homes in Rockaway Township, NJ cost?
Median Sold Price
$515,000
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$65,000(+14.4%)
Key Takeaway
Homes in Rockaway Township have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in Rockaway Township was $515,000 in October 2024, up 14.4% 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 | $285K | $332.4K | +16.6% |
| 2 Bedrooms | $415K | $439.9K | +6.0% |
| 3 Bedrooms | $431K | $515K | +19.5% |
| 4 Bedrooms | $540K | $647.5K | +19.9% |
| 5+ Bedrooms | $675K | $802.5K | +18.9% |
Summary: Rockaway Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.6%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 19.5%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 18.9%.
Median Sold Price Compared To Nearby Cities
| Rockaway Township | $450K | $515K | +14.4% |
| Rockaway | $450K | $510K | +13.3% |
| Boonton Township | $607K | $660K | +8.7% |
| Denville Township | $562.5K | $589.5K | +4.8% |
| Denville | $580K | $589K | +1.6% |
Housing Supply in Rockaway Township, NJ
How many homes are available in Rockaway Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 127 | 128 | +0.8% |
Summary: The Rockaway Township real estate market had 128 homes for sale in October 2024, a 0.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 11 | -8.3% |
| 2 Bedrooms | 37 | 39 | +5.4% |
| 3 Bedrooms | 52 | 41 | -21.2% |
| 4 Bedrooms | 19 | 32 | +68.4% |
| 5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Rockaway Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.3%, 2 bedroom homes increased by 5.4%, 3 bedroom homes decreased by 21.2%, 4 bedroom homes increased by 68.4%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 40 | +8.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rockaway Township, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 40 homes were sold or pending in Rockaway Township in October 2024, up by 8.1% month-over-month. Of the 40 sold homes, 13% were sold under asking, 25% were sold at asking, and 63% were sold over asking.
Days on Market for Rockaway Township, NJ
How long does it take to sell a home in Rockaway Township, 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 Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 40 homes were sold in Rockaway Township; 3% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 3% 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.