Rockaway Township Real Estate and Homes

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Rockaway Township Real Estate & Homes for Sale in New Jersey

Rockaway Township: Located in the northwest corner of New Jersey in Morris County, Rockaway Township is a quaint municipality of some 23,000 residents. The township encompasses 45.3 square miles of rolling hills, broad valleys and glittering lakes. The area features a mixture of natural beauty and pleasant suburban living with proximity to major metropolitan surroundings. New York City and the Atlantic Coast are less than an hour away. The township features many diverse and charming neighborhoods, a low crime rate, excellent school and library systems and an extraordinary park system. The area is made up of numerous small communities including the Borough of Rockaway, Green Pond, Lake Telemark, Marcella and Hibernia to the north; White Meadow Lake and Mount Hope along Route 80; and the newer developments of Fleetwood, Birchwood and Mount Pleasant in the south. Rockaway’s lush countryside provides a foundation for many activities including hiking, camping skiing and a wealth of other recreational activities. The real estate market is predominantly single-family homes with a few condominiums and townhouses sprinkled throughout ranging in price from just over $100,000 to $400,000. Single-family homes begin in the mid-$100,000s for cottage and ranch style homes and range up to $900,000 and more for grand colonial estates with acreage. Land is also available for custom homes.

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Rockaway Township Real Estate Stats and Trends for the week of December 14th, 2018: homes priced around $323,929 compared to $297,179 the previous week, showing a increase of more than +8%.  For Friday, December 14th, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.

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