$5,284 Closing Credit*
$445,000
3 Beds
•1 Full Bath
Robert Dekanski, Listing Office: RE/MAX 1st Advantage
Is Stanhope, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Stanhope was a Seller's Market.
Key Takeaway
Stanhope is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Stanhope, NJ
How much do homes in Stanhope, NJ cost?
Median Sold Price
$400,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$55,000(+15.9%)
Key Takeaway
Homes in Stanhope have sold for 15.9% more than they did a year ago.
Summary: The median home sold price in Stanhope was $400,000 in October 2024, up 15.9% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242K | $270K | +11.6% |
| 2 Bedrooms | $270K | $317.5K | +17.6% |
| 3 Bedrooms | $380K | $410K | +7.9% |
| 4 Bedrooms | $425.7K | $540K | +26.8% |
| 5+ Bedrooms | $435K | $550K | +26.4% |
Summary: Stanhope housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 26.8%, and 5+ bedroom homes increased by 26.4%.
Median Sold Price Compared To Nearby Cities
| Stanhope | $345K | $400K | +15.9% |
| Landing | $420.5K | $470K | +11.8% |
| Roxbury Township | $476K | $530K | +11.3% |
| Byram Township | $440K | $481.5K | +9.4% |
Housing Supply in Stanhope, NJ
How many homes are available in Stanhope, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 46 | 48 | +4.3% |
Summary: The Stanhope real estate market had 48 homes for sale in October 2024, a 4.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 18 | 20 | +11.1% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Stanhope housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Stanhope, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Stanhope in October 2024, down by 11.1% month-over-month. Of the 8 sold homes, 13% were sold under asking, 13% were sold at asking, and 75% were sold over asking.
Days on Market for Stanhope, NJ
We’re sorry, we don't have information for this market at the moment
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.