Is West Side, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Side is a neutral's market

Buyer's
Market

Difference Since December 2023

At the same time last year, West Side was a Seller's Market.

Key Takeaway

West Side 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 West Side, NJ

How much do homes in West Side, NJ cost?

Median Sold Price

$575,000

$397/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$120,000(+26.4%)

Key Takeaway

Homes in West Side have sold for 26.4% more than they did a year ago.

Summary: The median home sold price in West Side was $575,000 in December 2024, up 26.4% from last year, and the median price per square foot was $397.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $222.5K$240K
+7.9%
2 $355K$345K
-2.8%
3 $530K$639K
+20.6%
4 $555K$774K
+39.5%
5+ $680K$760K
+11.8%

Summary: West Side housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.9%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 39.5%, and 5+ bedroom homes increased by 11.8%.

Median Sold Price Compared To Nearby Neighborhoods

West Side
+26.4%
The Heights
+9.8%
Bergen-Lafayette
-6.3%
Journal Square
-9.1%

Housing Supply in West Side, NJ

How many homes are available in West Side, NJ?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
7671-6.6%

Summary: The West Side real estate market had 71 homes for sale in December 2024, a 6.6% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 109
-10.0%
2 1212
0.0%
3 1517
+13.3%
4 65
-16.7%
5+ 3328
-15.2%

Summary: The West Side housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10%, 2 bedroom homes remained the same, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 15.2%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1511-26.7%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Side, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in West Side in December 2024, down by 26.7% month-over-month. Of the 10 sold homes, 70% were sold under asking, 10% were sold at asking, and 20% were sold over asking.

Days on Market for West Side, NJ

How long does it take to sell a home in West Side, NJ?

Average Sale Time

Dec 2023Dec 2024CHANGE
20 Days45 Days+123.7%

Summary: Homes in West Side had an average of 45 days on market in Dec 2024, up by 123.7% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in West Side are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 11 homes were sold in West Side; 45% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

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