$6,876 Closing Credit*
$579,000
3 Beds
•1 Full Bath, 1 Partial
Listing Office: KELLER WILLIAMS REALTY
Is Whippany, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Whippany has remained a Seller's Market.
Key Takeaway
Whippany is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Whippany, NJ
How much do homes in Whippany, NJ cost?
Median Sold Price
$670,000
-
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$63,750(+10.5%)
Key Takeaway
Homes in Whippany have sold for 10.5% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $353K | - | N/A |
| 2 Bedrooms | $493.5K | $532.5K | +7.9% |
| 3 Bedrooms | $685K | $655K | -4.4% |
| 4 Bedrooms | $690K | $856K | +24.1% |
| 5+ Bedrooms | $1.0M | $1.7M | +62.2% |
Summary: Whippany housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.9%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 24.1%, and 5+ bedroom homes increased by 62.2%.
Median Sold Price Compared To Nearby Cities
| East Hanover Township | $635K | $760K | +19.7% |
| Hanover Township | $590K | $670K | +13.6% |
| Whippany | $606.2K | $670K | +10.5% |
| Morris Township | $768.7K | $835K | +8.6% |
Housing Supply in Whippany, NJ
How many homes are available in Whippany, NJ?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 26 | 19 | -26.9% |
Summary: The Whippany real estate market had 19 homes for sale in December 2024, a 26.9% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 11 | 7 | -36.4% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Whippany housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 36.4%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Whippany, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Whippany in December 2024, the same as the previous month. Of the 9 sold homes, 11% were sold under asking, 11% were sold at asking, and 78% were sold over asking.
Days on Market for Whippany, NJ
How long does it take to sell a home in Whippany, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Whippany are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 10 homes were sold in Whippany; 10% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
