Is 07438, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07438 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 07438 has remained a Seller's Market.

Key Takeaway

07438 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07438, NJ

How much do homes in 07438, NJ cost?

Median Sold Price

$440,000

-

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$40,000(+10.0%)

Key Takeaway

Homes in 07438 have sold for 10% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $245K$250K
+2.0%
2 $275K$335.2K
+21.9%
3 $391.5K$427.5K
+9.2%
4 $565K$570K
+0.9%
5+ $705K$627.5K
-11.0%

Summary: 07438 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 21.9%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes decreased by 11%.

Median Sold Price Compared To Nearby Zip Codes

07866
+13.0%
07885
+11.1%
07438
+10.0%
07849
-6.5%

Housing Supply in 07438, NJ

How many homes are available in 07438, NJ?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3738+2.7%

Summary: The 07438 real estate market had 38 homes for sale in April 2024, a 2.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 21
-50.0%
2 119
-18.2%
3 1315
+15.4%
4 1013
+30.0%
5+ 10
-100.0%

Summary: The 07438 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 30%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
119-18.2%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07438, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in 07438 in April 2024, down by 18.2% month-over-month. Of the 9 sold homes, 11% were sold under asking, 22% were sold at asking, and 67% were sold over asking.

Days on Market for 07438, 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 10 Days Ago

Newest Listings in 07438, NJ

Nearby Markets to 07438, NJ