Is 07504, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 07504 has remained a Seller's Market.
Key Takeaway
07504 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07504, NJ
How much do homes in 07504, NJ cost?
Median Sold Price
$507,500
$314/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 07504 have sold for 3.6% more than they did a month ago.
Summary: The median home sold price in 07504 was $507,500 in March 2024, up 3.6% from last month, and the median price per square foot was $314.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $490K | - | N/A |
| 4 Bedrooms | $515K | $515K | 0.0% |
| 5+ Bedrooms | $430K | $500K | +16.3% |
Summary: 07504 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes increased by 16.3%.
Median Sold Price Compared To Nearby Zip Codes
| 07514 | $359.5K | $382K | +6.3% |
| 07504 | $490K | $507.5K | +3.6% |
Housing Supply in 07504, NJ
How many homes are available in 07504, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 17 | -10.5% |
Summary: The 07504 real estate market had 17 homes for sale in March 2024, a 10.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 2 | 0 | -100.0% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The 07504 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 100%, 3 bedroom homes decreased by 100%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07504, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 07504 in March 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 07504, NJ
How long does it take to sell a home in 07504, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 07504 has remained consistent over time.
Summary: During March 2024, 4 homes were sold in 07504; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
