Is 07424, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 07424 has remained a Seller's Market.
Key Takeaway
07424 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07424, NJ
How much do homes in 07424, NJ cost?
Median Sold Price
$522,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07424 have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in 07424 was $522,000 in April 2024, up 8.8% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $312.5K | +38.9% |
| 2 Bedrooms | $449.4K | $491.2K | +9.3% |
| 3 Bedrooms | $498K | $522.5K | +4.9% |
| 4 Bedrooms | $516K | $650K | +26.0% |
| 5+ Bedrooms | $659.9K | $602K | -8.8% |
Summary: 07424 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38.9%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 26%, and 5+ bedroom homes decreased by 8.8%.
Housing Supply in 07424, NJ
How many homes are available in 07424, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 65 | 75 | +15.4% |
Summary: The 07424 real estate market had 75 homes for sale in April 2024, a 15.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 24 | 25 | +4.2% |
| 3 Bedrooms | 24 | 27 | +12.5% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The 07424 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 16 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07424, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in 07424 in April 2024, up by 60.0% month-over-month. Of the 16 sold homes, 19% were sold under asking, 13% were sold at asking, and 69% were sold over asking.
Days on Market for 07424, NJ
We’re sorry, we don't have information for this market at the moment
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.