Is 07042, 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, 07042 has remained a Buyer's Market.
Key Takeaway
07042 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07042, NJ
How much do homes in 07042, NJ cost?
Median Sold Price
$990,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07042 have sold for 5.4% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $278.2K | $282.5K | +1.5% |
| 2 Bedrooms | $380K | $442K | +16.3% |
| 3 Bedrooms | $616.5K | $612.5K | -0.6% |
| 4 Bedrooms | $943K | $980K | +3.9% |
| 5+ Bedrooms | $1.4M | $1.5M | +2.0% |
Summary: 07042 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 16.3%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 2%.
Housing Supply in 07042, NJ
How many homes are available in 07042, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 57 | +50.0% |
Summary: The 07042 real estate market had 57 homes for sale in March 2024, a 50.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 6 | 11 | +83.3% |
| 5+ Bedrooms | 21 | 32 | +52.4% |
Summary: The 07042 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 increased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 83.3%, and 5+ bedroom homes increased by 52.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07042, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 07042 in March 2024, down by 27.3% month-over-month. Of the 8 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 07042, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.