Is 07034, 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, 07034 was a Seller's Market.
Key Takeaway
07034 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07034, NJ
How much do homes in 07034, NJ cost?
Median Sold Price
$419,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07034 have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in 07034 was $419,000 in March 2024, up 6.8% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $178K | $205K | +15.2% |
| 2 Bedrooms | $305K | $310K | +1.6% |
| 3 Bedrooms | $432K | $420K | -2.8% |
| 4 Bedrooms | $480.5K | $525K | +9.3% |
| 5+ Bedrooms | $755K | $750K | -0.7% |
Summary: 07034 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 1.6%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes decreased by 0.7%.
Housing Supply in 07034, NJ
How many homes are available in 07034, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 22 | +57.1% |
Summary: The 07034 real estate market had 22 homes for sale in March 2024, a 57.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 3 | +100.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 3 | 6 | +100.0% |
| 4 Bedrooms | 5 | 8 | +60.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 07034 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 07034, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 07034 in March 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 07034, NJ
We’re sorry, we don't have information for this market at the moment
