Millburn Township Housing Market Report March 2025•Essex County, New Jersey

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Housing Prices in Millburn Township, NJ

How much do homes in Millburn Township, NJ cost?

Housing Market Conditions

Is Millburn Township, NJ a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Millburn Township is a Buyer's Market

Difference Since March 2024

At the same time last year, Millburn Township was a Seller's Market.

Insight

Millburn Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$1,837,333$658/SqFt
+$104,000
+6.0%

Based on all homes sold in the last 12 months

Insight

Homes in Millburn Township have sold for 6% more than they did a year ago.

Summary: The median home sold price in Millburn Township was $1,837,333 in March 2025, up 6% from last year, and the median price per square foot was $658.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Short Hills
+14.3%
Millburn
+10.1%
Springfield Township
+7.3%
Millburn Township
+6.0%
Summit
+1.1%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1$303K$347.5K
+14.7%
2$423.7K$401K
-5.4%
3$1.1M$1.0M
-3.6%
4$1.6M$1.6M
+1.5%
5$2.2M$2.5M
+15.4%

Summary: Millburn Township housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes increased by +14.7%. The home price for 2 bedroom homes decreased by -5.4%. The home price for 3 bedroom homes decreased by -3.6%. The home price for 4 bedroom homes increased by +1.5%. The home price for 5 bedroom homes increased by +15.4%.

How does Millburn Township, NJ compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Millburn Township, NJ

Housing supply in Millburn Township, NJ

How many homes are available in Millburn Township, NJ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
74Last MonthMar 2025
512 months agoFeb 2025
+45.1 %
Change MoMFeb – Mar

Summary: The Millburn Township real estate market had 74 homes for sale in Mar 2025, a 45.1 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
7Last MonthMar 2025
72 months agoFeb 2025
0.0 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
102
+100.0%
221
-50.0%
334
+33.3%
4918
+100.0%
53749
+32.4%

Summary: Millburn Township housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes decreased by -50.0%. The inventory for 3 bedroom homes increased by +33.3%. The inventory for 4 bedroom homes increased by +100.0%. The inventory for 5 bedroom homes increased by +32.4%.

Asking Price vs. Sold Price

How much do homes in Millburn Township, NJ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price4 Homes

At Asking Price2 Homes

Under Asking Price1 Home

Insight

If you're buying a home in Millburn Township, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Millburn Township in March 2025, the same as the previous month. Of the 7 sold homes, 14% were sold under asking, 29% were sold at asking, and and 57% were sold over asking.

Days on Market for Millburn Township, NJ

We’re sorry, we don't have information for this market at the moment.

Home sale times aren’t available for this area.

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Newest Listings in Millburn Township, NJ

What homes are available in Millburn Township, NJ?

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MLS Disclaimers and Copyright

Based on information from Garden State MLS, and New Jersey MLS for the period 04/01/2023 - 04/01/2025

Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.

Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as an IDX Listing. Information deemed reliable but not guaranteed.

Notice: The dissemination of listings displayed herein does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/4/2025, 2:20:47 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXDisclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Information provided is for consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc. Copyright© 2025 New Jersey Multiple Listing Service, Inc. All rights reserved.

Rocket Homes Real Estate, 701 Griswold St, Suite 21, Detroit, MI 48226

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/4/2025, 2:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.