Is 07422, 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, 07422 was a Seller's Market.
Key Takeaway
07422 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07422, NJ
How much do homes in 07422, NJ cost?
Median Sold Price
$350,000
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07422 have sold for 12.2% more than they did a year ago.
Summary: The median home sold price in 07422 was $350,000 in April 2024, up 12.2% from last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $240K | -9.4% |
| 2 Bedrooms | $250K | $256.5K | +2.6% |
| 3 Bedrooms | $325K | $355K | +9.2% |
| 4 Bedrooms | $375K | $405K | +8.0% |
| 5+ Bedrooms | - | $435K | N/A |
Summary: 07422 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.4%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 8%, and 5+ bedroom homes did not change.
Housing Supply in 07422, NJ
How many homes are available in 07422, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 40 | 42 | +5.0% |
Summary: The 07422 real estate market had 42 homes for sale in April 2024, a 5.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 18 | +28.6% |
| 3 Bedrooms | 22 | 18 | -18.2% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 07422 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 4 | -63.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07422, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 07422 in April 2024, down by 63.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 07422, NJ
We’re sorry, we don't have information for this market at the moment
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