March 2024

07407 Housing Market Report Elmwood Park, Bergen County, New Jersey

Report Updated 29 Days Ago

Is 07407, 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, 07407 was a Seller's Market.

Key Takeaway

07407 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 07407, NJ

How much do homes in 07407, NJ cost?

Median Sold Price

$480,000

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$35,000(+7.9%)

Key Takeaway

Homes in 07407 have sold for 7.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDS# BEDROOMS	Mar 2023	Mar 2024	CHANGE
1 Bedroom	-	$197.5K	N/A
2 Bedrooms	$366K	$422.5K	+15.4%
3 Bedrooms	$445K	$505K	+13.5%
4 Bedrooms	$475K	$500.5K	+5.4%
5+ Bedrooms	$527.5K	-	N/A

Summary: 07407 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 15.4%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes did not change.

Housing Supply in 07407, NJ

How many homes are available in 07407, NJ?

Number of Homes For Sale

Feb 2024	Mar 2024	CHANGE
19	29	+52.6%

Summary: The 07407 real estate market had 29 homes for sale in March 2024, a 52.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDS# BEDROOMS	Feb 2024	Mar 2024	CHANGE
1 Bedroom	4	4	0.0%
2 Bedrooms	2	2	0.0%
3 Bedrooms	7	12	+71.4%
4 Bedrooms	5	8	+60.0%
5+ Bedrooms	1	3	+200.0%

Summary: The 07407 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 remained the same, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Feb 2024	Mar 2024	CHANGE
1	2	+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Key Takeaway

If you're buying a home in 07407, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 2 homes were sold or pending in 07407 in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for 07407, NJ

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 29 Days Ago

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Newest Listings in 07407, NJ

What homes are available in 07407, NJ?

See More Listings

$699,000

$8,301 Closing Credit

177 Falmouth Ave, Elmwood Park NJ, 07407

Catherine E. Nikolovski

Listing Office:

United Global Properties

$599,000

$7,113 Closing Credit

13 Falmouth Ave, Elmwood Park NJ, 07407

Raisa Nagorny

Listing Office:

Exclusive Properties Realty, LLC

$429,333

$5,098 Closing Credit

277 Cory Ln, Elmwood Park NJ, 07407

Michael Kijowski

Listing Office:

RE/MAX Signature Homes

4 bedrooms, 2 full baths, 1 partial house for sale

$799,000

$9,488 Closing Credit

2 Full, 1 Partial

34 Palsa Ave, Elmwood Park NJ, 07407

Mahmoud Ijbara

Listing Office:

Compass New Jersey, LLC

$629,900

$7,480 Closing Credit

285 Martha Ave, Elmwood Park Boro NJ, 07407

Listing Office:

REAL

$629,900

$7,480 Closing Credit

285 Martha Ave, Elmwood Park NJ, 07407

Cresann Hoyt

Listing Office:

Real

$585,000

$6,947 Closing Credit

131 Iozia Ter, Elmwood Park NJ, 07407

Johnny Rojas

Listing Office:

Century 21 JR Gold Team Realty, LLC

$330,000

$3,919 Closing Credit

535 Bushes Ln, Elmwood Park NJ, 07407

Barbara Palko

Listing Office:

Aldo's Realty

$499,000

$5,926 Closing Credit

34 Caruth Ave, Elmwood Park NJ, 07407

Jonathan Starr

Listing Office:

Christie's International Real Estate Group-Paramus

3 bedrooms, 2 full baths, 2 partial house for sale

$549,000

$6,519 Closing Credit

2 Full, 2 Partial

180 Philip Ave, Elmwood Park NJ, 07407

Eugene Lowe

Listing Office:

Howard Hanna Rand Realty

5 bedrooms, 2 full baths, 1 partial house for sale

$595,000

$7,066 Closing Credit

2 Full, 1 Partial

99 Grove St, Elmwood Park NJ, 07407

Monis Young

Listing Office:

Exclusive Properties Realty, LLC

Backup Offers

$410,000

$4,869 Closing Credit

1,343 SqFt

4128 Cory Ln, Elmwood Park NJ, 07407

Kristin L Roach

Listing Office:

Nearby Markets to 07407, NJ

MLS Disclaimers and Copyright

Based on information from New Jersey MLS, Garden State MLS, and BrightMLS for the period 04/01/2022 - 04/01/2024

IDX Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc. Copyright© 2024 New Jersey Multiple Listing Service, Inc. All rights reserved.

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/29/2024, 8:20:18 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Information deemed reliable but not guaranteed. Copyright © 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved.

Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as an IDX Listing. Information deemed reliable but not guaranteed.

Notice: The dissemination of listings displayed herein does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.

The information on this web site 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. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/29/2024, 8:25:13 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX 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.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/29/2024, 8:00:19 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.