Is Randolph, 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, Randolph has remained a Seller's Market.
Key Takeaway
Randolph is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Randolph, NJ
How much do homes in Randolph, NJ cost?
Median Sold Price
$725,500
$362/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Randolph have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Randolph was $725,500 in May 2024, up 6.3% from last year, and the median price per square foot was $362.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $421.2K | $490K | +16.3% |
| 3 Bedrooms | $525K | $565K | +7.6% |
| 4 Bedrooms | $728.5K | $785K | +7.8% |
| 5+ Bedrooms | $849.9K | $855K | +0.6% |
Summary: Randolph 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 increased by 16.3%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Randolph | $682.6K | $725.5K | +6.3% |
| Randolph Township | $690K | $726K | +5.2% |
Housing Supply in Randolph, NJ
How many homes are available in Randolph, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 69 | 82 | +18.8% |
Summary: The Randolph real estate market had 82 homes for sale in May 2024, a 18.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 13 | 16 | +23.1% |
| 4 Bedrooms | 39 | 42 | +7.7% |
| 5+ Bedrooms | 11 | 18 | +63.6% |
Summary: The Randolph 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 23.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 63.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Randolph, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Randolph in May 2024, down by 12.5% month-over-month. Of the 14 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.
Days on Market for Randolph, NJ
We’re sorry, we don't have information for this market at the moment
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