Is Rockaway 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, Rockaway Township has remained a Seller's Market.
Housing Prices in Rockaway Township, NJ
How much do homes in Rockaway Township, 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 Rockaway Township was $490,000 in May 2024, up 11.7% 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 | $210K | $329.9K | +57.1% |
2 Bedrooms | $375.5K | $441.3K | +17.5% |
3 Bedrooms | $430K | $465K | +8.1% |
4 Bedrooms | $545K | $600K | +10.1% |
5+ Bedrooms | $660K | $637.5K | -3.4% |
Summary: Rockaway Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 57.1%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes decreased by 3.4%.
Median Sold Price Compared To Nearby Cities
Rockaway | $435K | $491.7K | +13.0% |
Rockaway Township | $438.5K | $490K | +11.7% |
Boonton Township | $608.4K | $660K | +8.5% |
Denville Township | $537K | $555K | +3.4% |
Denville | $543.3K | $555K | +2.1% |
Housing Supply in Rockaway Township, NJ
How many homes are available in Rockaway Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
100 | 118 | +18.0% |
Summary: The Rockaway Township real estate market had 118 homes for sale in May 2024, a 18.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 7 | 0.0% |
2 Bedrooms | 26 | 28 | +7.7% |
3 Bedrooms | 36 | 45 | +25.0% |
4 Bedrooms | 27 | 32 | +18.5% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Rockaway Township 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 increased by 7.7%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 23 | -11.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Rockaway Township in May 2024, down by 11.5% month-over-month. Of the 23 sold homes, 22% were sold under asking, 17% were sold at asking, and 61% were sold over asking.
Days on Market for Rockaway Township, NJ
We’re sorry, we don't have information for this market at the moment