Is 07006, 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, 07006 has remained a Seller's Market.
Key Takeaway
07006 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07006, NJ
How much do homes in 07006, NJ cost?
Median Sold Price
$647,500
$395/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in 07006 has remained the same since last year.
Summary: The median home sold price in 07006 was $647,500 in March 2024, down 0.4% from last year, and the median price per square foot was $395.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $231K | $270.5K | +17.1% |
| 2 Bedrooms | $450K | $475K | +5.6% |
| 3 Bedrooms | $590K | $612.5K | +3.8% |
| 4 Bedrooms | $725K | $800K | +10.3% |
| 5+ Bedrooms | $1.1M | $1.0M | -8.0% |
Summary: 07006 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes decreased by 8%.
Housing Supply in 07006, NJ
How many homes are available in 07006, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 45 | 59 | +31.1% |
Summary: The 07006 real estate market had 59 homes for sale in March 2024, a 31.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 12 | 17 | +41.7% |
| 4 Bedrooms | 11 | 16 | +45.5% |
| 5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The 07006 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 remained the same, 3 bedroom homes increased by 41.7%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 11 | +57.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07006, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 07006 in March 2024, up by 57.1% month-over-month. Of the 11 sold homes, 27% were sold under asking, 9% were sold at asking, and 64% were sold over asking.
Days on Market for 07006, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.