Is 07480, 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, 07480 was a Neutral Market.
Key Takeaway
07480 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07480, NJ
How much do homes in 07480, NJ cost?
Median Sold Price
$398,957
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07480 have sold for 19.1% more than they did a year ago.
Summary: The median home sold price in 07480 was $398,957 in April 2024, up 19.1% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $260K | +40.5% |
| 2 Bedrooms | $275K | $310K | +12.7% |
| 3 Bedrooms | $420K | $424.5K | +1.1% |
| 4 Bedrooms | $505K | $578.9K | +14.6% |
| 5+ Bedrooms | $645K | $662K | +2.6% |
Summary: 07480 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.5%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 2.6%.
Housing Supply in 07480, NJ
How many homes are available in 07480, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 49 | 71 | +44.9% |
Summary: The 07480 real estate market had 71 homes for sale in April 2024, a 44.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 17 | 23 | +35.3% |
| 3 Bedrooms | 15 | 27 | +80.0% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 07480 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 35.3%, 3 bedroom homes increased by 80%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 13 | +62.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07480, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 07480 in April 2024, up by 62.5% month-over-month. Of the 13 sold homes, 38% were sold under asking, 0% were sold at asking, and 62% were sold over asking.
Days on Market for 07480, NJ
We’re sorry, we don't have information for this market at the moment
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