$3,919 Closing Credit*
$330,000
2 Beds
•1 Full Bath
Listing Office: DAVID REALTY 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 October 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
$430,000
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$70,210(+19.5%)
Key Takeaway
Homes in West Milford have sold for 19.5% more than they did a year ago.
Summary: The median home sold price in West Milford was $430,000 in October 2024, up 19.5% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $207.5K | $280K | +34.9% |
| 2 Bedrooms | $282.5K | $335K | +18.6% |
| 3 Bedrooms | $410K | $451.2K | +10.1% |
| 4 Bedrooms | $540K | $580K | +7.4% |
| 5+ Bedrooms | $645K | $895K | +38.8% |
Summary: West Milford housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.9%, 2 bedroom homes increased by 18.6%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 38.8%.
Median Sold Price Compared To Nearby Cities
| Newfoundland | $467.5K | $824.5K | +76.4% |
| West Milford | $359.7K | $430K | +19.5% |
| Hewitt | $360K | $420K | +16.7% |
| West Milford Township | $371K | $430K | +15.9% |
| Stockholm | $360K | $370K | +2.8% |
Housing Supply in West Milford, NJ
How many homes are available in West Milford, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 92 | 101 | +9.8% |
Summary: The West Milford real estate market had 101 homes for sale in October 2024, a 9.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 30 | 36 | +20.0% |
| 3 Bedrooms | 35 | 36 | +2.9% |
| 4 Bedrooms | 19 | 20 | +5.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The West Milford housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 23 | +53.3% |
Asking Price vs. Sold Price
9 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. 47.8% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in West Milford in October 2024, up by 53.3% month-over-month. Of the 23 sold homes, 39% were sold under asking, 13% were sold at asking, and 48% were sold over asking.
Days on Market for West Milford, NJ
How long does it take to sell a home in West Milford, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 8 Days | 31 Days | +287.5% |
Summary: Homes in West Milford had an average of 31 days on market in Oct 2024, up by 287.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in West Milford has remained consistent over time.
Summary: During October 2024, 23 homes were sold in West Milford; 0% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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