Is 07028, 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, 07028 has remained a Seller's Market.
Key Takeaway
07028 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07028, NJ
How much do homes in 07028, NJ cost?
Median Sold Price
$995,499
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07028 have sold for 7.3% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $203K | $170K | -16.3% |
| 2 Bedrooms | $475K | $516K | +8.6% |
| 3 Bedrooms | $695K | $763K | +9.8% |
| 4 Bedrooms | $950K | $919.5K | -3.2% |
| 5+ Bedrooms | $1.3M | $1.3M | -0.5% |
Summary: 07028 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.3%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 9.8%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes decreased by 0.5%.
Housing Supply in 07028, NJ
How many homes are available in 07028, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 26 | +44.4% |
Summary: The 07028 real estate market had 26 homes for sale in March 2024, a 44.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 7 | +40.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 1 | 2 | +100.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The 07028 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 5 | +100.0% |
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 07028, 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 07028 in March 2024, up by 100.0% 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 07028, NJ
We’re sorry, we don't have information for this market at the moment
