Is 07502, 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, 07502 was a Seller's Market.
Key Takeaway
07502 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 07502, NJ
How much do homes in 07502, NJ cost?
Median Sold Price
$430,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07502 have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in 07502 was $430,000 in April 2024, up 7.6% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $160K | +10.3% |
| 2 Bedrooms | $320K | $399.9K | +25.0% |
| 3 Bedrooms | $386K | $422.5K | +9.5% |
| 4 Bedrooms | $436K | $483.5K | +10.9% |
| 5+ Bedrooms | $457.4K | $528.6K | +15.6% |
Summary: 07502 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.3%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 15.6%.
Housing Supply in 07502, NJ
How many homes are available in 07502, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 26 | +18.2% |
Summary: The 07502 real estate market had 26 homes for sale in April 2024, a 18.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 9 | 11 | +22.2% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The 07502 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07502, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 07502 in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 07502, NJ
We’re sorry, we don't have information for this market at the moment
