Is Budd Lake, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Budd Lake was a Seller's Market.
Housing Prices in Budd Lake, NJ
How much do homes in Budd Lake, NJ cost?
Median Sold Price
$497,500
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Budd Lake was $497,500 in May 2024, up 6.6% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $249K | - | N/A |
2 Bedrooms | $310K | $335K | +8.1% |
3 Bedrooms | $377.9K | $455K | +20.4% |
4 Bedrooms | $572.5K | $640K | +11.8% |
5+ Bedrooms | $567K | $783.5K | +38.2% |
Summary: Budd Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 20.4%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 38.2%.
Median Sold Price Compared To Nearby Cities
Stanhope | $335K | $390K | +16.4% |
Allamuchy Township | $375K | $407.5K | +8.7% |
Mount Olive Township | $500K | $535K | +7.0% |
Budd Lake | $466.5K | $497.5K | +6.6% |
Housing Supply in Budd Lake, NJ
How many homes are available in Budd Lake, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
27 | 32 | +18.5% |
Summary: The Budd Lake real estate market had 32 homes for sale in May 2024, a 18.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 14 | 15 | +7.1% |
4 Bedrooms | 8 | 10 | +25.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Budd Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 4 | -55.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Budd Lake in May 2024, down by 55.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Budd Lake, NJ
We’re sorry, we don't have information for this market at the moment