Is Butler, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Butler has remained a Seller's Market.
Key Takeaway
Butler is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Butler, NJ
How much do homes in Butler, NJ cost?
Median Sold Price
$495,000
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Butler have sold for 22.2% more than they did a year ago.
Summary: The median home sold price in Butler was $495,000 in May 2024, up 22.2% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $243.5K | $306.2K | +25.7% |
| 2 Bedrooms | $335K | $372.5K | +11.2% |
| 3 Bedrooms | $468K | $541.2K | +15.7% |
| 4 Bedrooms | $540K | $652.5K | +20.8% |
| 5+ Bedrooms | - | $630K | N/A |
Summary: Butler housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.7%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Butler | $405K | $495K | +22.2% |
| Bloomingdale | $417.4K | $480K | +15.0% |
| West Milford Township | $357.5K | $410K | +14.7% |
| Riverdale | $380K | $420K | +10.5% |
| Kinnelon | $698K | $731K | +4.7% |
Housing Supply in Butler, NJ
How many homes are available in Butler, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 22 | +29.4% |
Summary: The Butler real estate market had 22 homes for sale in May 2024, a 29.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Butler housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 75%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Butler, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Butler in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Butler, NJ
We’re sorry, we don't have information for this market at the moment
