Is Rutherford, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Rutherford was a Seller's Market.
Key Takeaway
Rutherford is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Rutherford, NJ
How much do homes in Rutherford, NJ cost?
Median Sold Price
$737,500
-
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rutherford have sold for 32.9% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $238K | $184K | -22.7% |
| 2 Bedrooms | $344.9K | $480K | +39.2% |
| 3 Bedrooms | $612.5K | $700K | +14.3% |
| 4 Bedrooms | $691.5K | $806.6K | +16.7% |
| 5+ Bedrooms | $726K | $840K | +15.7% |
Summary: Rutherford housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.7%, 2 bedroom homes increased by 39.2%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 15.7%.
Median Sold Price Compared To Nearby Cities
| Rutherford | $555K | $737.5K | +32.9% |
| East Rutherford | $530K | $520K | -1.9% |
Housing Supply in Rutherford, NJ
How many homes are available in Rutherford, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 27 | +42.1% |
Summary: The Rutherford real estate market had 27 homes for sale in May 2024, a 42.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 8 | +166.7% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Rutherford housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 166.7%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rutherford, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Rutherford in May 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Rutherford, NJ
We’re sorry, we don't have information for this market at the moment
