Is 07461, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 07461 has remained a Seller's Market.
Key Takeaway
07461 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07461, NJ
How much do homes in 07461, NJ cost?
Median Sold Price
$385,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07461 have sold for 15.5% more than they did a year ago.
Summary: The median home sold price in 07461 was $385,000 in March 2024, up 15.5% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215.5K | $320K | +48.5% |
| 2 Bedrooms | $231.5K | $250K | +8.0% |
| 3 Bedrooms | $335K | $361.5K | +7.9% |
| 4 Bedrooms | $460K | $532.5K | +15.8% |
| 5+ Bedrooms | $810K | $610K | -24.7% |
Summary: 07461 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.5%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes decreased by 24.7%.
Housing Supply in 07461, NJ
How many homes are available in 07461, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 70 | 79 | +12.9% |
Summary: The 07461 real estate market had 79 homes for sale in March 2024, a 12.9% increase 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 | 10 | 11 | +10.0% |
| 3 Bedrooms | 33 | 38 | +15.2% |
| 4 Bedrooms | 21 | 24 | +14.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 07461 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 10%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 14 | +75.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07461, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 07461 in March 2024, up by 75.0% month-over-month. Of the 14 sold homes, 57% were sold under asking, 7% were sold at asking, and 36% were sold over asking.
Days on Market for 07461, NJ
We’re sorry, we don't have information for this market at the moment
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. 
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.