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New Providence Housing Market Report December 2024•Union County, New Jersey
Housing Prices in New Providence, NJ
How much do homes in New Providence, NJ cost?
Housing Market Conditions
Is New Providence, NJ a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
New Providence is a Seller's Market
Difference Since December 2023
Since last year, New Providence has remained a Seller's Market.
Insight
New Providence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
$900,000$481/SqFt
+$97,000
+12.1%
Based on all homes sold in the last 12 months
Insight
Homes in New Providence have sold for 12.1% more than they did a year ago.
Summary: The median home sold price in New Providence was $900,000 in December 2024, up 12.1% from last year, and the median price per square foot was $481.
Median Sold Price By City
| City | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| Berkeley Heights Township | $730K | $831.5K | +13.9% |
| Berkeley Heights | $729.5K | $820.5K | +12.5% |
| New Providence | $803K | $900K | +12.1% |
| Chatham Township | $1.0M | $1.1M | +11.2% |
| Summit | $1.1M | $1.2M | +5.7% |
Median Sold Price By Bedrooms
| Beds | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| 11 Bedroom | - | - | N/A |
| 22 Bedrooms | $654K | $607K | -7.2% |
| 33 Bedrooms | $716K | $785.5K | +9.7% |
| 44 Bedrooms | $851.5K | $982.5K | +15.4% |
| 55+ Bedrooms | $1.2M | $1.4M | +23.9% |
Summary: New Providence housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -7.2%. The home price for 3 bedroom homes increased by +9.7%. The home price for 4 bedroom homes increased by +15.4%. The home price for 5 bedroom homes increased by +23.9%.
Housing supply in New Providence, NJ
How many homes are available in New Providence, NJ?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 25Last MonthDec 2024 | ||
| 362 months agoNov 2024 | -30.6 % Change MoMNov – Dec |
Summary: The New Providence real estate market had 25 homes for sale in Dec 2024, a 30.6 % decrease compared to Nov 2024.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 9Last MonthDec 2024 | ||
| 112 months agoNov 2024 | -18.2 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
| Beds | Nov 2024 | Dec 2024 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 1 | 1 | 0.0% |
| 22 Bedrooms | 2 | 2 | 0.0% |
| 33 Bedrooms | 13 | 10 | -23.1% |
| 44 Bedrooms | 9 | 5 | -44.4% |
| 55+ Bedrooms | 11 | 7 | -36.4% |
Summary: New Providence housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -23.1%. The inventory for 4 bedroom homes decreased by -44.4%. The inventory for 5 bedroom homes decreased by -36.4%.
Asking Price vs. Sold Price
How much do homes in New Providence, NJ cost?
Over Asking Price6 Homes
At Asking Price2 Homes
Under Asking Price1 Home
Insight
If you're buying a home in New Providence, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in New Providence in December 2024, down by 18.2% month-over-month. Of the 9 sold homes, 11% were sold under asking, 22% were sold at asking, and and 67% were sold over asking.
Days on Market for New Providence, 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 New Providence, NJ
What homes are available in New Providence, NJ?
$8,301 Closing Credit¹
Listing Office: KELLER WILLIAMS REALTY
$10,000 Closing Credit¹
Listing Office: BHHS FOX & ROACH
$8,847 Closing Credit¹
Ryan Knab, Listing Office: Coldwell Banker, Fort Lee
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MLS Disclaimers and Copyright
Based on information from Garden State MLS, and New Jersey MLS for the period 01/01/2023 - 01/01/2025
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: 1/18/2025, 12:20:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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: 1/18/2025, 12:20:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Disclaimer: 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. 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.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:56:04 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.