Is 07208, 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, 07208 was a Seller's Market.
Housing Prices in 07208, NJ
How much do homes in 07208, NJ cost?
Median Sold Price
$490,000
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 07208 was $490,000 in March 2024, up 8.3% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $130K | N/A |
2 Bedrooms | $255K | $265K | +3.9% |
3 Bedrooms | $435K | $455K | +4.6% |
4 Bedrooms | $495K | $535K | +8.1% |
5+ Bedrooms | $503.1K | $615K | +22.2% |
Summary: 07208 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 3.9%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 22.2%.
Housing Supply in 07208, NJ
How many homes are available in 07208, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
44 | 51 | +15.9% |
Summary: The 07208 real estate market had 51 homes for sale in March 2024, a 15.9% 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 | 7 | 10 | +42.9% |
3 Bedrooms | 7 | 11 | +57.1% |
4 Bedrooms | 13 | 14 | +7.7% |
5+ Bedrooms | 17 | 16 | -5.9% |
Summary: The 07208 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 42.9%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 5.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 8 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in 07208 in March 2024, up by 100.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for 07208, NJ
How long does it take to sell a home in 07208, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 8 homes were sold in 07208; 13% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.