Is 07092, 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, 07092 has remained a Buyer's Market.
Key Takeaway
07092 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07092, NJ
How much do homes in 07092, NJ cost?
Median Sold Price
$854,000
$375/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07092 have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in 07092 was $854,000 in March 2024, up 7.1% from last year, and the median price per square foot was $375.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $540K | $670K | +24.1% |
| 3 Bedrooms | $775K | $750K | -3.2% |
| 4 Bedrooms | $830K | $880K | +6.0% |
| 5+ Bedrooms | $955K | $1.0M | +9.9% |
Summary: 07092 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 24.1%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 9.9%.
Housing Supply in 07092, NJ
How many homes are available in 07092, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Summary: The 07092 real estate market had 20 homes for sale in March 2024, a 5.3% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 11 | 9 | -18.2% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 07092 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 remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 07092, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in 07092 in March 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 07092, NJ
We’re sorry, we don't have information for this market at the moment
