Florham Park NJ Real Estate - Florham Park NJ Homes For Sale | Zillow (2024)

FAQs

Is Florham Park NJ A good place to live? ›

Florham Park is a suburb of New York City with a population of 12,790. Florham Park is in Morris County and is one of the best places to live in New Jersey. Living in Florham Park offers residents a dense suburban feel and most residents own their homes.

Considering the current market conditions, favorable interest rate environment, and outlook for the first half of 2024, now could indeed be a good time to sell your New Jersey house. With high demand, competitive pricing, and favorable financing options, sellers stand to benefit from entering the market at this time.

Lower Mortgage Rates: The interest rates for home loans have decreased to 7.05%, marking a decline from approximately 8% in the preceding year of 2023. Concurrently, there has been a surge in new listings in the market. This surge allows buyers to easily find some of the cheapest places to live in New Jersey.

The median home price in New Jersey is $510,400 as of April 2024. This marks a 12.4% increase over last year, which is up there with some of the biggest jumps in the nation. In May of 2024, the national median home price was $438,601—New Jersey homes clearly hurdle right over this average.

With a crime rate for both violent and property crime combined of 4 per 1,000 residents, the crime rate in Florham Park is one of the lower rates in America among communities of all sizes (lower than 78% of America's communities). One's chance of becoming a victim of crime in Florham Park is one in 234.

The per capita income in Florham Park in 2022 was $66,939, which is upper middle income relative to New Jersey, and wealthy relative to the rest of the US. This equates to an annual income of $267,756 for a family of four.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March. Just over 18 million purchase transactions took place during this period, according to ATTOM.

Late summer to early fall is also considered one of the best times of the year to buy a house because the competition levels cool down following the busy spring and early summer months.

Bottom Line: The Best and Worst Month To Sell a Home

June is usually the best month to sell a house. It's when you're most likely to reach the most potential buyers and get a price above market value. As a result, on average nationwide, June has one of the highest median sale prices and the most sales overall.

The runaway housing prices we've seen over the past few years in New Jersey should finally slow down in 2024, real estate experts say. And the market is expected to normalize. Falling interest rates should lead to more houses being listed for sale, helping prices level out.

Is 2024 a good year to buy a house in NJ? ›

In 2024, there is expected to be more predictability and stability for potential homebuyers. Additionally, Zillow predicts that more homes will hit the market this year, as more homeowners who locked in all-time-low mortgage rates may put their homes up for sale, growing tired of waiting for such low rates to return.

Winter is traditionally the slowest season for home sales and, as a result, it's the cheapest time to buy a home. There's usually less competition between buyers and sellers may be more willing to negotiate to make a sale since buyer interest is lower than it is in the spring.

New Jersey homes sold in less than a month, making it fifth in the nation for fastest- selling homes, according to Realtor.com.

#1: Camden

With a median home sale price of $135,000, Camden is the most affordable place to live in New Jersey. About 5 miles away from Philadelphia, PA, the nearest major metro, Camden is home to roughly 71,800 people.

The 5 largest ethnic groups in Florham Park, NJ are White (Non-Hispanic) (70.4%), Asian (Non-Hispanic) (9.29%), Black or African American (Non-Hispanic) (6.65%), White (Hispanic) (5.82%), and Two+ (Hispanic) (2.6%).

Florham Park is the North American headquarters of the BASF corporation, the world's largest chemical company.

For a rich cultural experience, Jersey City, and Newark are some of the best places to live. People are attracted to move here because of the strong job market, excellent schools, and diverse communities. Additionally, the state ranks 2nd in quality of education rankings.

The Waterfront | Idyllic, upscale, and walkable locale that is one of the safest neighborhoods in Jersey City. Nestled between Downtown Jersey City and the Hudson River waterfront is The Waterfront neighborhood. Sophisticated and affluent, this area is extremely desirable for those who are searching for a luxury condo.