Is 07005, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 07005 has remained a Seller's Market.
Key Takeaway
07005 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07005, NJ
How much do homes in 07005, NJ cost?
Median Sold Price
$630,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07005 have sold for 4.6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | - | N/A |
| 2 Bedrooms | $450K | $475K | +5.6% |
| 3 Bedrooms | $530K | $572.5K | +8.0% |
| 4 Bedrooms | $693.5K | $696K | 0.4% |
| 5+ Bedrooms | $889.5K | $875K | -1.6% |
Summary: 07005 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes decreased by 1.6%.
Housing Supply in 07005, NJ
How many homes are available in 07005, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 45 | +18.4% |
Summary: The 07005 real estate market had 45 homes for sale in March 2024, a 18.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 12 | 13 | +8.3% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 8 | 12 | +50.0% |
Summary: The 07005 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07005, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 07005 in March 2024, up by 37.5% month-over-month. Of the 11 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for 07005, NJ
We’re sorry, we don't have information for this market at the moment
