Is Highland 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, Highland Park was a Seller's Market.
Housing Prices in Highland Park, NJ
How much do homes in Highland Park, NJ cost?
Median Sold Price
$501,500
$301/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Highland Park was $501,500 in May 2024, up 9.7% from last year, and the median price per square foot was $301.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $187K | $217K | +16.0% |
2 Bedrooms | $310K | $397K | +28.1% |
3 Bedrooms | $457K | $501K | +9.6% |
4 Bedrooms | $543K | $535K | -1.5% |
5+ Bedrooms | $660K | $702.9K | +6.5% |
Summary: Highland Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16%, 2 bedroom homes increased by 28.1%, 3 bedroom homes increased by 9.6%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Cities
New Brunswick | $321.5K | $385K | +19.8% |
Edison Township | $485K | $542.3K | +11.8% |
Edison | $487.1K | $541K | +11.1% |
Highland Park | $457K | $501.5K | +9.7% |
Piscataway | $456.2K | $500K | +9.6% |
Housing Supply in Highland Park, NJ
How many homes are available in Highland Park, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
39 | 45 | +15.4% |
Summary: The Highland Park real estate market had 45 homes for sale in May 2024, a 15.4% 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 | 3 | 0.0% |
3 Bedrooms | 13 | 17 | +30.8% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Highland 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 remained the same, 3 bedroom homes increased by 30.8%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 6 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Highland Park in May 2024, down by 33.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Highland Park, NJ
How long does it take to sell a home in Highland Park, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 23 Days | -42.7% |
Summary: Homes in Highland Park had an average of 23 days on market in May 2024, down by 42.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Highland Park; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.