Is 07205, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, 07205 was a Seller's Market.
Housing Prices in 07205, NJ
How much do homes in 07205, NJ cost?
Median Sold Price
$440,000
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 07205 was $440,000 in February 2024, up 9.2% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $280K | - | N/A |
2 Bedrooms | $315K | $320K | +1.6% |
3 Bedrooms | $395K | $430K | +8.9% |
4 Bedrooms | $450K | $460K | +2.2% |
5+ Bedrooms | $500K | $561K | +12.2% |
Summary: 07205 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 12.2%.
Housing Supply in 07205, NJ
How many homes are available in 07205, NJ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
54 | 59 | +9.3% |
Summary: The 07205 real estate market had 59 homes for sale in February 2024, a 9.3% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 28 | 34 | +21.4% |
4 Bedrooms | 12 | 9 | -25.0% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The 07205 housing inventory by bedroom type for February 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 21.4%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
9 | 4 | -55.6% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in 07205 in February 2024, down by 55.6% month-over-month. Of the 4 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 07205, NJ
We’re sorry, we don't have information for this market at the moment