Is 07470, 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, 07470 was a Neutral Market.
Key Takeaway
07470 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07470, NJ
How much do homes in 07470, NJ cost?
Median Sold Price
$632,500
$280/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07470 have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in 07470 was $632,500 in March 2024, up 3.8% from last year, and the median price per square foot was $280.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $270K | +10.2% |
| 2 Bedrooms | $422.5K | $460K | +8.9% |
| 3 Bedrooms | $560K | $605K | +8.0% |
| 4 Bedrooms | $700K | $729K | +4.1% |
| 5+ Bedrooms | $775K | $922K | +19.0% |
Summary: 07470 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 19%.
Housing Supply in 07470, NJ
How many homes are available in 07470, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 109 | 131 | +20.2% |
Summary: The 07470 real estate market had 131 homes for sale in March 2024, a 20.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 10 | 10 | 0.0% |
| 3 Bedrooms | 37 | 52 | +40.5% |
| 4 Bedrooms | 37 | 38 | +2.7% |
| 5+ Bedrooms | 21 | 26 | +23.8% |
Summary: The 07470 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes remained the same, 3 bedroom homes increased by 40.5%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 23.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 24 | -7.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07470, you could pay more than the asking price. 79.2% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in 07470 in March 2024, down by 7.7% month-over-month. Of the 24 sold homes, 17% were sold under asking, 4% were sold at asking, and 79% were sold over asking.
Days on Market for 07470, NJ
How long does it take to sell a home in 07470, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 07470 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 24 homes were sold in 07470; 4% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
