Is 07716, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 07716 has remained a Seller's Market.
Key Takeaway
07716 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07716, NJ
How much do homes in 07716, NJ cost?
Median Sold Price
$707,000
$359/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07716 have sold for 15.9% more than they did a year ago.
Summary: The median home sold price in 07716 was $707,000 in April 2024, up 15.9% from last year, and the median price per square foot was $359.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $240K | +2.1% |
| 2 Bedrooms | $445K | $491.5K | +10.4% |
| 3 Bedrooms | $610K | $677.5K | +11.1% |
| 4 Bedrooms | $780K | $802.5K | +2.9% |
| 5+ Bedrooms | $1.0M | $931K | -13.4% |
Summary: 07716 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.1%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 13.4%.
Housing Supply in 07716, NJ
How many homes are available in 07716, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 31 | 31 | 0.0% |
Summary: The 07716 real estate market had 31 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 07716 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07716, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 07716 in April 2024, down by 33.3% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 07716, NJ
How long does it take to sell a home in 07716, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 7 Days | 28 Days | +264.4% |
Summary: Homes in 07716 had an average of 28 days on market in Apr 2024, up by 264.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 07716 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in 07716; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.