Is Parsippany-Troy Hills Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Parsippany-Troy Hills Township has remained a Seller's Market.
Housing Prices in Parsippany-Troy Hills Township, NJ
How much do homes in Parsippany-Troy Hills Township, NJ cost?
Median Sold Price
$585,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Parsippany-Troy Hills Township was $585,000 in May 2024, up 9.3% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $195.5K | $220K | +12.5% |
2 Bedrooms | $401.6K | $418K | +4.1% |
3 Bedrooms | $505K | $570K | +12.9% |
4 Bedrooms | $645K | $675.5K | +4.7% |
5+ Bedrooms | $768.5K | $789.9K | +2.8% |
Summary: Parsippany-Troy Hills Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Cities
Parsippany-Troy Hills Township | $535K | $585K | +9.3% |
Boonton | $608.4K | $660K | +8.5% |
Parsippany | $582K | $630K | +8.2% |
Lake Hiawatha | $400K | $432K | +8.0% |
Mountain Lakes | $920K | $921.5K | 0.2% |
Housing Supply in Parsippany-Troy Hills Township, NJ
How many homes are available in Parsippany-Troy Hills Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
102 | 116 | +13.7% |
Summary: The Parsippany-Troy Hills Township real estate market had 116 homes for sale in May 2024, a 13.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 18 | 20 | +11.1% |
3 Bedrooms | 36 | 35 | -2.8% |
4 Bedrooms | 30 | 38 | +26.7% |
5+ Bedrooms | 14 | 20 | +42.9% |
Summary: The Parsippany-Troy Hills Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 20 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Parsippany-Troy Hills Township in May 2024, the same as the previous month. Of the 20 sold homes, 5% were sold under asking, 15% were sold at asking, and 80% were sold over asking.
Days on Market for Parsippany-Troy Hills Township, NJ
We’re sorry, we don't have information for this market at the moment