$5,558 Closing Credit*
$468,000
3 Beds
•2 Full Baths
Victoria Tudor, Listing Office: True Real Estate Group, LLC
Is West Milford, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, West Milford has remained a Seller's Market.
Key Takeaway
West Milford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Milford, NJ
How much do homes in West Milford, NJ cost?
Median Sold Price
$439,500
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$69,500(+18.8%)
Key Takeaway
Homes in West Milford have sold for 18.8% more than they did a year ago.
Summary: The median home sold price in West Milford was $439,500 in November 2024, up 18.8% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $207.5K | $291K | +40.2% |
| 2 Bedrooms | $285K | $330K | +15.8% |
| 3 Bedrooms | $410K | $461K | +12.4% |
| 4 Bedrooms | $540K | $599K | +10.9% |
| 5+ Bedrooms | $662K | $895K | +35.2% |
Summary: West Milford housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.2%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 35.2%.
Median Sold Price Compared To Nearby Cities
| Newfoundland | $470K | $874.5K | +86.1% |
| West Milford | $370K | $439.5K | +18.8% |
| West Milford Township | $375K | $436.4K | +16.4% |
| Hewitt | $372.5K | $420K | +12.8% |
| Stockholm | $360K | $375K | +4.2% |
Housing Supply in West Milford, NJ
How many homes are available in West Milford, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 96 | 98 | +2.1% |
Summary: The West Milford real estate market had 98 homes for sale in November 2024, a 2.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 34 | 37 | +8.8% |
| 3 Bedrooms | 34 | 33 | -2.9% |
| 4 Bedrooms | 19 | 20 | +5.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The West Milford housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 8.8%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 20 | -16.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Milford, you could pay more than the asking price. 55% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in West Milford in November 2024, down by 16.7% month-over-month. Of the 20 sold homes, 30% were sold under asking, 15% were sold at asking, and 55% were sold over asking.
Days on Market for West Milford, NJ
We’re sorry, we don't have information for this market at the moment
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