170 homes sold in Preakness in the last year, at a typical $633K
About one sale in 4 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Preakness homes are listed.
Every place Preakness homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Preakness.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
19% of Preakness’ sales are condos, at $371K less than a house
124 houses and 32 condos sold in the year to May 2026.
typical sale · 124 sold in 12 months
- Per square foot
- $384NJ $331
- Days to sell
- 57
- Sold over asking
- 65%
- Listings with a price cut
- 13%
typical sale · 32 sold in 12 months
- Per square foot
- $397NJ $450
- Days to sell
- 56
- Sold over asking
- 66%
- Listings with a price cut
- 18%
Multi-family (2–4 units): 1 sold, typical $480K
Townhouses: 13 sold, typical $622K
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2022, at 1.6 times the 2016 price
170 sales in the last year, against 286 in 2021 and a low of 145 in 2024. The typical sale went from $395K in 2016 to $633K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $650K buys in Preakness
Check a listing against what Preakness homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Preakness are more common than before the pandemic, but two thirds fewer homes come up for sale
We read every month of Preakness’ home sales since 2016 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 170 sales.
If you’re buying in Preakness
- Shop in March. It brings about 24 new listings a month, close to the busiest month, with fewer bidding wars (40% over asking).
- Less room to haggle. Only 10% of listings cut their price, against 23% before the pandemic.
- Expect to bid over asking. Buyers paid 104% of the list price on average; 64% paid over.
- You’ll usually have time. Only 41% of homes go under contract within two weeks; the typical one takes 59 days.
Summer brings both the most homes and the most bidding wars
June has the most new listings (about 28 a month), and the most competition: 47% close over asking. March and April offer nearly as much choice with fewer homes bid up (40%). February has the least competition (29%) but only about 17 new listings.
Averages for each calendar month, 2015 on.
Nearly as heated as 2021, and hotter than New Jersey
| Preakness now | 2017–19 | 2021 peak | NJ now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 64% | 19% | 60% | 48% |
| Gone within two weeksShare of homes under contract within 14 days | 41% | 6% | 15% | 31% |
| Listings with a price cutShare of homes for sale that cut their price | 10% | 23% | 7% | 17% |
| Price paid vs. askingAverage sale price ÷ list price | 104% | 97.9% | 102.9% | 101.2% |
| Days to sellMedian days from listing to contract | 59 | 93 | 75 | 45 |
34 homes for sale on a typical day
That’s 1.7 times the 2023 low (20), 64% fewer than in 2017–19 and well under 2016’s 116.
1 in 10 listings has cut its price
10% in the last year, against 23% in 2017–19 and 17% across New Jersey.
Since 2019, houses are up 66%, condos 67%
A house typically sold for $739K in the last year (124 sales), a condo for $368K (32).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Preakness ranks 65th of 299 busy New Jersey markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Preakness is one of the state’s hottest markets.
Source: Redfin Data Center, city market tracker, January 2016 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Four things worth knowing
New listings in June
The month with the most choice. December has the fewest, about 9.
Best time to buyTypical commute
The average one-way trip to work for people who live in Preakness.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Haledon, Prospect Park, North Haledon and Paterson sell for less a square foot
The busier markets within 25 miles of Preakness, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Paterson | 582 | $562K | $291 | 57% | 69 |
| Preakness | 170 | $633K | $376 | 64% | 59 |
| Totowa | 86 | $684K | $396 | 65% | 62 |
| North Haledon | 73 | $769K | $362 | 53% | 73 |
| Haledon | 53 | $599K | $360 | 77% | 60 |
| Prospect Park | 53 | $539K | $291 | 68% | 51 |
| Packanack Lake | 42 | $802K | $410 | 83% | 49 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Preakness, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Preakness. People who follow the town see it, and so do people comparing Preakness with their own town. No commission, no listing fee.
Questions about buying a home in Preakness
What do homes sell for in Preakness, NJ?
170 homes sold in the year to May 2026 at a typical $633K, $376 a square foot. Houses sold for about $739K, condos for about $368K.
Is Preakness a buyer’s or seller’s market?
A seller’s market: 26 homes were for sale in May 2026 and 15 sold, about 1.7 months of supply. Buyers paid 104% of asking on average, and 10% of listings cut their price.
When is the best time to buy in Preakness?
June brings the most new listings. The sales history shows which months have fewer bidding wars.
Where can I see homes for sale in Preakness?
Zillow, Redfin, Realtor.com and Homes.com all carry Preakness’ MLS listings; the search links above open each one filtered to Preakness.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).