Is 07035, 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, 07035 was a Neutral Market.
Key Takeaway
07035 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07035, NJ
How much do homes in 07035, NJ cost?
Median Sold Price
$439,500
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07035 have sold for 9.9% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $268.2K | $325K | +21.2% |
| 2 Bedrooms | $355K | $399.2K | +12.5% |
| 3 Bedrooms | $423K | $480K | +13.5% |
| 4 Bedrooms | $560K | $530K | -5.4% |
| 5+ Bedrooms | $532K | $605K | +13.7% |
Summary: 07035 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.2%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 13.5%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes increased by 13.7%.
Housing Supply in 07035, NJ
How many homes are available in 07035, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 33 | +26.9% |
Summary: The 07035 real estate market had 33 homes for sale in March 2024, a 26.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 4 | +300.0% |
| 2 Bedrooms | 8 | 11 | +37.5% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 07035 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07035, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 07035 in March 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 07035, NJ
We’re sorry, we don't have information for this market at the moment
