Is Passaic County, 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, Passaic County was a Seller's Market.
Housing Prices in Passaic County, NJ
How much do homes in Passaic County, NJ cost?
Median Sold Price
$500,137
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Passaic County was $500,137 in April 2024, up 11.1% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $223K | $258.2K | +15.8% |
2 Bedrooms | $365K | $413.6K | +13.3% |
3 Bedrooms | $459.7K | $500K | +8.8% |
4 Bedrooms | $550K | $599.8K | +9.1% |
5+ Bedrooms | $663K | $763K | +15.1% |
Summary: Passaic County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.8%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 15.1%.
Median Sold Price Compared To Nearby Counties
Bergen County | $584.5K | $650K | +11.2% |
Passaic County | $450K | $500.1K | +11.1% |
Morris County | $574.9K | $628.7K | +9.4% |
Essex County | $550.9K | $600.7K | +9.0% |
Rockland County | $585K | $614.5K | +5.0% |
Housing Supply in Passaic County, NJ
How many homes are available in Passaic County, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
945 | 1,238 | +31.0% |
Summary: The Passaic County real estate market had 1,238 homes for sale in April 2024, a 31.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 36 | 39 | +8.3% |
2 Bedrooms | 180 | 207 | +15.0% |
3 Bedrooms | 317 | 415 | +30.9% |
4 Bedrooms | 198 | 282 | +42.4% |
5+ Bedrooms | 214 | 295 | +37.9% |
Summary: The Passaic County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 30.9%, 4 bedroom homes increased by 42.4%, and 5+ bedroom homes increased by 37.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
146 | 158 | +8.2% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
114 Homes Were Sold
Over Asking
Summary: A total of 158 homes were sold or pending in Passaic County in April 2024, up by 8.2% month-over-month. Of the 158 sold homes, 22% were sold under asking, 6% were sold at asking, and 72% were sold over asking.
Days on Market for Passaic County, NJ
How long does it take to sell a home in Passaic County, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
57 Days | 125 Days | +117.4% |
Summary: Homes in Passaic County had an average of 125 days on market in Apr 2024, up by 117.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 158 homes were sold in Passaic County; 0% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.