Tis the season!
How to prepare your home
Do you want content like this delivered to your inbox?
Share

Post Rate Hike:

Millburn, NJ 

Market Report

April 2022 vs October 2022


Share

Post Rate Hike - Millburn, NJ April 2022 vs Oct 2022

Lena Pesso

It’s been 10+ years for me in the real estate business. I love it ❤️...

It’s been 10+ years for me in the real estate business. I love it ❤️...

Nov 7 1 minutes read

Here's a 6 month post rate hike market update for Millburn, NJ (April 2022 - Oct 2022 since interest rates went up).

During this time, the average home sale price decreased from $1.94m to $1.7m. The average days on market increased from 14 to 24, and the average sales/list price decreased from 104% to 101%.

There has definitely been a cooling in the market, however it's still a seller's market.

Real estate is local. What's depicted in the national headlines doesn't always correspond to what's happening in our local markets.

April 2022 

55

New Listings

86

Active Listings

44

Under Contract

27

Closed Sales

October 2022 

15

New Listings

50

Active Listings

18

Under Contract

12

Closed Sales

April 2022 

$1.94m

Average Sales Price

14

Average Days on Market

1.9

Months of Supply

October 2022 

$1.7m

Average Sales Price

24

Average Days on Market

2.7

Months of Supply


April 2022

Homes Sold

104%

Sale-to-List Price



October 2022

Homes Sold

101%

Sale-to-List Price


Curious about what
your home is worth now?

We're able to explain what these numbers mean for you and your home's current market value. 

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info