Is 07012, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07012 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 07012 has remained a Seller's Market.

Key Takeaway

07012 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07012, NJ

How much do homes in 07012, NJ cost?

Median Sold Price

$572,500

-

Based on all homes sold in February 2024.

Difference Since Last Month

+$50,500(+9.7%)

Key Takeaway

Homes in 07012 have sold for 9.7% more than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 $511.2K-
N/A
3 $516K$525K
+1.7%
4 $549K$620K
+12.9%
5+ --
N/A

Summary: 07012 housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes did not change.

Housing Supply in 07012, NJ

How many homes are available in 07012, NJ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
128-33.3%

Summary: The 07012 real estate market had 8 homes for sale in February 2024, a 33.3% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 74
-42.9%
4 22
0.0%
5+ 00
0.0%

Summary: The 07012 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 42.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
72-71.4%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07012, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 2 homes were sold or pending in 07012 in February 2024, down by 71.4% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for 07012, NJ

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 07012, NJ

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