Is 07079, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 07079 was a Seller's Market.
Key Takeaway
07079 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 07079, NJ
How much do homes in 07079, NJ cost?
Median Sold Price
$997,000
$446/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07079 have sold for 16.6% more than they did a year ago.
Summary: The median home sold price in 07079 was $997,000 in April 2024, up 16.6% from last year, and the median price per square foot was $446.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168.5K | $250K | +48.4% |
| 2 Bedrooms | $405.6K | $430K | +6.0% |
| 3 Bedrooms | $660K | $716.5K | +8.6% |
| 4 Bedrooms | $950K | $959.5K | +1.0% |
| 5+ Bedrooms | $1.1M | $1.2M | +9.7% |
Summary: 07079 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.4%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 9.7%.
Housing Supply in 07079, NJ
How many homes are available in 07079, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 44 | 70 | +59.1% |
Summary: The 07079 real estate market had 70 homes for sale in April 2024, a 59.1% increase 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 17 | 25 | +47.1% |
| 5+ Bedrooms | 15 | 31 | +106.7% |
Summary: The 07079 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 increased by 33.3%, 4 bedroom homes increased by 47.1%, and 5+ bedroom homes increased by 106.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07079, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 07079 in April 2024, up by 25.0% month-over-month. Of the 10 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 07079, NJ
We’re sorry, we don't have information for this market at the moment
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.