$5,641 Closing Credit*
$475,000
1 Bed
•1 Full Bath, 1 Partial
Listing Office: COLDWELL BANKER REALTY
Is Whippany, 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, Whippany was a Seller's Market.
Key Takeaway
Whippany is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Whippany, NJ
How much do homes in Whippany, NJ cost?
Median Sold Price
$651,800
-
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$55,800(+9.4%)
Key Takeaway
Homes in Whippany have sold for 9.4% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $353K | - | N/A |
| 2 Bedrooms | $472K | $532.5K | +12.8% |
| 3 Bedrooms | $600K | $651.8K | +8.6% |
| 4 Bedrooms | $695K | $845K | +21.6% |
| 5+ Bedrooms | $970K | $1.7M | +81.4% |
Summary: Whippany housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes increased by 81.4%.
Median Sold Price Compared To Nearby Cities
| East Hanover Township | $630K | $760.5K | +20.7% |
| Cedar Knolls | $495K | $572.5K | +15.6% |
| Hanover Township | $580K | $650K | +12.1% |
| Whippany | $596K | $651.8K | +9.4% |
| Morris Township | $770K | $835K | +8.4% |
Housing Supply in Whippany, NJ
How many homes are available in Whippany, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 28 | +21.7% |
Summary: The Whippany real estate market had 28 homes for sale in October 2024, a 21.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Whippany housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 37.5%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Whippany, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Whippany in October 2024, down by 57.1% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Whippany, NJ
We’re sorry, we don't have information for this market at the moment
