Is Pequannock Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Pequannock Township has remained a Seller's Market.
Key Takeaway
Pequannock Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pequannock Township, NJ
How much do homes in Pequannock Township, NJ cost?
Median Sold Price
$550,000
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Pequannock Township have sold for 4% more than they did a year ago.
Summary: The median home sold price in Pequannock Township was $550,000 in April 2024, up 4% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $301K | +5.6% |
| 2 Bedrooms | $379K | $380K | 0.3% |
| 3 Bedrooms | $557K | $550K | -1.3% |
| 4 Bedrooms | $635K | $635K | 0.0% |
| 5+ Bedrooms | $779.9K | $835.7K | +7.2% |
Summary: Pequannock Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 0.3%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 7.2%.
Median Sold Price Compared To Nearby Cities
| Pompton Lakes | $415K | $475K | +14.5% |
| Pompton Plains | $505K | $569.5K | +12.8% |
| Riverdale | $375K | $420K | +12.0% |
| Pequannock Township | $529K | $550K | +4.0% |
| Pequannock | $602.5K | $535K | -11.2% |
Housing Supply in Pequannock Township, NJ
How many homes are available in Pequannock Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 35 | -7.9% |
Summary: The Pequannock Township real estate market had 35 homes for sale in April 2024, a 7.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 14 | 12 | -14.3% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The Pequannock Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 7 | -41.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pequannock Township, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Pequannock Township in April 2024, down by 41.7% month-over-month. Of the 7 sold homes, 14% were sold under asking, 0% were sold at asking, and 86% were sold over asking.
Days on Market for Pequannock Township, NJ
We’re sorry, we don't have information for this market at the moment
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