Is 07204, 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, 07204 was a Seller's Market.
Key Takeaway
07204 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 07204, NJ
How much do homes in 07204, NJ cost?
Median Sold Price
$487,000
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07204 have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in 07204 was $487,000 in April 2024, up 6.6% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $255K | +37.8% |
| 2 Bedrooms | $345K | $359.9K | +4.3% |
| 3 Bedrooms | $438K | $484K | +10.5% |
| 4 Bedrooms | $492.5K | $508.6K | +3.3% |
| 5+ Bedrooms | $575K | $670K | +16.5% |
Summary: 07204 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.8%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 16.5%.
Housing Supply in 07204, NJ
How many homes are available in 07204, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 21 | +16.7% |
Summary: The 07204 real estate market had 21 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The 07204 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 200%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07204, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 07204 in April 2024, down by 62.5% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 07204, NJ
We’re sorry, we don't have information for this market at the moment
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