Home Values

Long Hill Township Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$515,400

  • 13.8% 1-year change
  • 4.5% 1-year forecast

The median home value in Long Hill Township is $515,400. Long Hill Township home values have gone up 13.8% over the past year and Zillow predicts they will rise 4.5% within the next year. The median list price per square foot in Long Hill Township is $258, which is higher than the New York Metro average of $251. The median price of homes currently listed in Long Hill Township is $550,000 while the median price of homes that sold is $443,600. The median rent price in Long Hill Township is $1,900, which is lower than the New York Metro median of $2,350.

Foreclosures will be a factor impacting home values in the next several years. In Long Hill Township 2.0 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 1.5 and also lower than the national value of 4.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Long Hill Township is 10.7%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Long Hill Township homeowners underwater on their mortgage is 4.3%, which is lower than New York Metro at 13.6%.

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Relative ZHVI
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Long Hill Township Market Overview

Data through Nov 30, 2014
  • $515,400 ZHVI
  • 4.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $550,000 Median listing price
  • $443,600 Median sale price (Sep 30, 2014)
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Long Hill Township Market Health

Data through Nov 30, 2014
  • 9.2/10 Very healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 4.3% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 10.7% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

2 homes(Jul 31, 2014) Long Hill Township
1.5 homes New York Metro
4.2 homes United States
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Nearby Cities

Name Median ZHVI
Harding Township $1,106,200
Chatham Township $767,300
Warren $694,500
Name Median ZHVI
Watchung $654,300
Bernards Township $617,600
New Providence $566,000
Name Median ZHVI
Berkeley Heights $531,400
Green Brook Township $424,800
North Plainfield $251,900

Listings & Sales

Data through Nov 30, 2014
  • $258 Median list price / sq ft
  • $227 Median sale price / sq ft (Sep 30, 2014)
  • No data Listings with price cut
4.2%
Sold below listing
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Long Hill Township Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $2,617 Long Hill Township
    $2,329 New York Metro
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,900 Rent list price (Oct 31, 2014)
  • No data Rent list price / sq ft
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