Is 07016, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 07016 was a Seller's Market.
Housing Prices in 07016, NJ
How much do homes in 07016, NJ cost?
Median Sold Price
$675,375
$401/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 07016 was $675,375 in March 2024, up 9.8% from last year, and the median price per square foot was $401.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $262K | $267K | +1.9% |
2 Bedrooms | $360K | $422K | +17.2% |
3 Bedrooms | $580K | $625K | +7.8% |
4 Bedrooms | $725K | $750K | +3.4% |
5+ Bedrooms | $900K | $942K | +4.7% |
Summary: 07016 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 4.7%.
Housing Supply in 07016, NJ
How many homes are available in 07016, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
52 | 62 | +19.2% |
Summary: The 07016 real estate market had 62 homes for sale in March 2024, a 19.2% 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 | 27 | 28 | +3.7% |
4 Bedrooms | 10 | 17 | +70.0% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The 07016 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 3.7%, 4 bedroom homes increased by 70%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 8 | -11.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in 07016 in March 2024, down by 11.1% month-over-month. Of the 8 sold homes, 13% were sold under asking, 13% were sold at asking, and 75% were sold over asking.
Days on Market for 07016, NJ
We’re sorry, we don't have information for this market at the moment