Is 07111, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 07111 was a Seller's Market.
Key Takeaway
07111 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07111, NJ
How much do homes in 07111, NJ cost?
Median Sold Price
$350,000
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07111 have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in 07111 was $350,000 in March 2024, up 8.5% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $87.5K | $207K | +136.6% |
| 2 Bedrooms | $240K | $295K | +22.9% |
| 3 Bedrooms | $320K | $350K | +9.4% |
| 4 Bedrooms | $349.9K | $392.4K | +12.2% |
| 5+ Bedrooms | $380K | $460K | +21.1% |
Summary: 07111 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 136.6%, 2 bedroom homes increased by 22.9%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 21.1%.
Median Sold Price Compared To Nearby Zip Codes
| 07111 | $322.5K | $350K | +8.5% |
| 07040 | $825K | $846.6K | +2.6% |
Housing Supply in 07111, NJ
How many homes are available in 07111, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 134 | 167 | +24.6% |
Summary: The 07111 real estate market had 167 homes for sale in March 2024, a 24.6% 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 | 11 | 14 | +27.3% |
| 3 Bedrooms | 38 | 42 | +10.5% |
| 4 Bedrooms | 23 | 26 | +13.0% |
| 5+ Bedrooms | 62 | 85 | +37.1% |
Summary: The 07111 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 increased by 27.3%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 37.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07111, you could pay more than the asking price. 91.7% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in 07111 in March 2024, up by 50.0% month-over-month. Of the 12 sold homes, 8% were sold under asking, 0% were sold at asking, and 92% were sold over asking.
Days on Market for 07111, NJ
We’re sorry, we don't have information for this market at the moment
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The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.