Is 07080, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 07080 has remained a Seller's Market.
Key Takeaway
07080 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07080, NJ
How much do homes in 07080, NJ cost?
Median Sold Price
$515,000
$294/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07080 have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in 07080 was $515,000 in April 2024, up 14.4% from last year, and the median price per square foot was $294.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $340K | - | N/A |
| 2 Bedrooms | $350K | $373.6K | +6.7% |
| 3 Bedrooms | $446.5K | $510K | +14.2% |
| 4 Bedrooms | $532.5K | $585K | +9.9% |
| 5+ Bedrooms | $590K | $780.7K | +32.3% |
Summary: 07080 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 32.3%.
Housing Supply in 07080, NJ
How many homes are available in 07080, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 61 | 74 | +21.3% |
Summary: The 07080 real estate market had 74 homes for sale in April 2024, a 21.3% 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 | 10 | 11 | +10.0% |
| 3 Bedrooms | 32 | 37 | +15.6% |
| 4 Bedrooms | 15 | 21 | +40.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 07080 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 10%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07080, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in 07080 in April 2024, up by 25.0% month-over-month. Of the 15 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for 07080, NJ
How long does it take to sell a home in 07080, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 30 Days | 22 Days | -23.8% |
Summary: Homes in 07080 had an average of 22 days on market in Apr 2024, down by 23.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 07080 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in 07080; 67% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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