Is 07077, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 07077 was a Buyer's Market.
Key Takeaway
07077 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07077, NJ
How much do homes in 07077, NJ cost?
Median Sold Price
$480,000
$291/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 07077 have sold for 15% less than they did a month ago.
Summary: The median home sold price in 07077 was $480,000 in April 2024, down 15% from last month, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $565K | $480K | -15.0% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 07077 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 15%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 07077, NJ
How many homes are available in 07077, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Summary: The 07077 real estate market had 8 homes for sale in April 2024, a 11.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 5 | -28.6% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 07077 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 remained the same, 3 bedroom homes decreased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07077, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 07077 in April 2024, up by 200.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 07077, NJ
How long does it take to sell a home in 07077, NJ?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 13 Days | -39.4% |
Summary: Homes in 07077 had an average of 13 days on market in Apr 2024, down by 39.4% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 07077 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in 07077; 100% 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.
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