Is 07420, 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, 07420 was a Seller's Market.
Key Takeaway
07420 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07420, NJ
How much do homes in 07420, NJ cost?
Median Sold Price
$420,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07420 have sold for 7.7% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $391.7K | $405K | +3.4% |
| 3 Bedrooms | $362.5K | $425K | +17.2% |
| 4 Bedrooms | $430K | $450K | +4.7% |
| 5+ Bedrooms | $395K | $541K | +37.0% |
Summary: 07420 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 3.4%, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 37%.
Housing Supply in 07420, NJ
How many homes are available in 07420, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 19 | -9.5% |
Summary: The 07420 real estate market had 19 homes for sale in March 2024, a 9.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 7 | 5 | -28.6% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The 07420 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 66.7%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 2 | -75.0% |
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 07420, 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 07420 in March 2024, down by 75.0% 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 07420, NJ
We’re sorry, we don't have information for this market at the moment
