Is 07112, 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, 07112 was a Seller's Market.
Key Takeaway
07112 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07112, NJ
How much do homes in 07112, NJ cost?
Median Sold Price
$401,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07112 have sold for 14.6% more than they did a year ago.
Summary: The median home sold price in 07112 was $401,000 in April 2024, up 14.6% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132.5K | $155K | +17.0% |
| 2 Bedrooms | $295K | $218K | -26.1% |
| 3 Bedrooms | $340K | $365.6K | +7.5% |
| 4 Bedrooms | $410K | $470K | +14.6% |
| 5+ Bedrooms | $470K | $435K | -7.4% |
Summary: 07112 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17%, 2 bedroom homes decreased by 26.1%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes decreased by 7.4%.
Housing Supply in 07112, NJ
How many homes are available in 07112, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 84 | 113 | +34.5% |
Summary: The 07112 real estate market had 113 homes for sale in April 2024, a 34.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 10 | 20 | +100.0% |
| 5+ Bedrooms | 57 | 73 | +28.1% |
Summary: The 07112 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 28.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07112, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 07112 in April 2024, the same as the previous month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for 07112, NJ
How long does it take to sell a home in 07112, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 07112 has remained consistent over time.
Summary: During April 2024, 5 homes were sold in 07112; 0% 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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