Is 07018, 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, 07018 was a Seller's Market.
Key Takeaway
07018 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07018, NJ
How much do homes in 07018, NJ cost?
Median Sold Price
$370,000
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07018 have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in 07018 was $370,000 in March 2024, up 8.7% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $146.7K | $178K | +21.3% |
| 2 Bedrooms | $202K | $287.5K | +42.3% |
| 3 Bedrooms | $340K | $350K | +2.9% |
| 4 Bedrooms | $395K | $450K | +13.9% |
| 5+ Bedrooms | $405K | $400K | -1.2% |
Summary: 07018 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.3%, 2 bedroom homes increased by 42.3%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes decreased by 1.2%.
Median Sold Price Compared To Nearby Zip Codes
| 07017 | $375.9K | $440K | +17.0% |
| 07018 | $340.5K | $370K | +8.7% |
Housing Supply in 07018, NJ
How many homes are available in 07018, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 64 | 77 | +20.3% |
Summary: The 07018 real estate market had 77 homes for sale in March 2024, a 20.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 38 | 45 | +18.4% |
Summary: The 07018 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 18.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07018, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 07018 in March 2024, up by 25.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for 07018, NJ
We’re sorry, we don't have information for this market at the moment
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.