Is 07045, 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, 07045 has remained a Seller's Market.
Key Takeaway
07045 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07045, NJ
How much do homes in 07045, NJ cost?
Median Sold Price
$687,000
$311/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07045 have sold for 1.9% less than they did a year ago.
Summary: The median home sold price in 07045 was $687,000 in March 2024, down 1.9% from last year, and the median price per square foot was $311.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $305K | $321K | +5.2% |
| 2 Bedrooms | $550K | $540K | -1.8% |
| 3 Bedrooms | $671.4K | $640K | -4.7% |
| 4 Bedrooms | $812.5K | $882.5K | +8.6% |
| 5+ Bedrooms | $1.0M | $1.1M | +8.3% |
Summary: 07045 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.2%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 8.3%.
Median Sold Price Compared To Nearby Zip Codes
| 07058 | $694K | $805K | +16.0% |
| 07034 | $392.5K | $419K | +6.8% |
| 07004 | $650K | $650K | 0.0% |
| 07045 | $699.9K | $687K | -1.9% |
Housing Supply in 07045, NJ
How many homes are available in 07045, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 33 | +73.7% |
Summary: The 07045 real estate market had 33 homes for sale in March 2024, a 73.7% 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 | 2 | 4 | +100.0% |
| 3 Bedrooms | 9 | 13 | +44.4% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 1 | 7 | +600.0% |
Summary: The 07045 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 100%, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 600%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07045, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 07045 in March 2024, up by 133.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.
Days on Market for 07045, NJ
We’re sorry, we don't have information for this market at the moment
