Is 07050, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 07050 has remained a Buyer's Market.
Key Takeaway
07050 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07050, NJ
How much do homes in 07050, NJ cost?
Median Sold Price
$568,000
$237/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 07050 have sold for 2.3% more than they did a month ago.
Summary: The median home sold price in 07050 was $568,000 in April 2024, up 2.3% from last month, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $450K | - | N/A |
| 3 Bedrooms | $570K | $427.9K | -24.9% |
| 4 Bedrooms | - | $494.5K | N/A |
| 5+ Bedrooms | - | $600K | N/A |
Summary: 07050 housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 24.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 07050, NJ
How many homes are available in 07050, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 81 | 87 | +7.4% |
Summary: The 07050 real estate market had 87 homes for sale in April 2024, a 7.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 27 | 26 | -3.7% |
| 4 Bedrooms | 16 | 19 | +18.8% |
| 5+ Bedrooms | 33 | 36 | +9.1% |
Summary: The 07050 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07050, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in 07050 in April 2024, up by 50.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.
Days on Market for 07050, NJ
How long does it take to sell a home in 07050, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 07050 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in 07050; 11% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
