Is Oakland, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Oakland was a Neutral Market.
Key Takeaway
Oakland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Oakland, NJ
How much do homes in Oakland, NJ cost?
Median Sold Price
$619,000
$303/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Oakland has remained the same since last year.
Summary: The median home sold price in Oakland was $619,000 in April 2024, down 0.2% from last year, and the median price per square foot was $303.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $166K | $290K | +74.7% |
| 2 Bedrooms | $375K | $475K | +26.7% |
| 3 Bedrooms | $610K | $601K | -1.5% |
| 4 Bedrooms | $650K | $700K | +7.7% |
| 5+ Bedrooms | $667.5K | $904.9K | +35.6% |
Summary: Oakland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 74.7%, 2 bedroom homes increased by 26.7%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 35.6%.
Median Sold Price Compared To Nearby Cities
| Mahwah Township | $540K | $665K | +23.1% |
| Pompton Lakes | $415K | $475K | +14.5% |
| Wanaque | $415K | $451K | +8.7% |
| Oakland | $620K | $619K | -0.2% |
Housing Supply in Oakland, NJ
How many homes are available in Oakland, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 33 | +106.3% |
Summary: The Oakland real estate market had 33 homes for sale in April 2024, a 106.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 6 | 13 | +116.7% |
| 4 Bedrooms | 9 | 13 | +44.4% |
| 5+ Bedrooms | 0 | 5 | +100.0% |
Summary: The Oakland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 116.7%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Oakland in April 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Oakland, NJ
We’re sorry, we don't have information for this market at the moment
