Is Elmwood Park, 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, Elmwood Park was a Seller's Market.
Housing Prices in Elmwood Park, NJ
How much do homes in Elmwood Park, NJ cost?
Median Sold Price
$490,000
$327/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Elmwood Park was $490,000 in May 2024, up 6.5% from last year, and the median price per square foot was $327.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $107.5K | N/A |
2 Bedrooms | $425K | $420K | -1.2% |
3 Bedrooms | $445K | $525K | +18.0% |
4 Bedrooms | $480K | $599K | +24.8% |
5+ Bedrooms | $475K | - | N/A |
Summary: Elmwood Park 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 decreased by 1.2%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 24.8%, and 5+ bedroom homes did not change.
Housing Supply in Elmwood Park, NJ
How many homes are available in Elmwood Park, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 29 | +61.1% |
Summary: The Elmwood Park real estate market had 29 homes for sale in May 2024, a 61.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 5 | 12 | +140.0% |
4 Bedrooms | 6 | 8 | +33.3% |
5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The Elmwood Park 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 decreased by 33.3%, 3 bedroom homes increased by 140%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 3 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Elmwood Park in May 2024, down by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Elmwood Park, NJ
How long does it take to sell a home in Elmwood Park, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Elmwood Park; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.