Is 07724, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 07724 has remained a Seller's Market.
Housing Prices in 07724, NJ
How much do homes in 07724, NJ cost?
Median Sold Price
$535,000
$321/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 07724 was $535,000 in March 2024, up 14.1% from last year, and the median price per square foot was $321.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $121.5K | $149K | +22.6% |
2 Bedrooms | $379.4K | $405K | +6.7% |
3 Bedrooms | $574.8K | $597.4K | +3.9% |
4 Bedrooms | $622K | $751K | +20.7% |
5+ Bedrooms | $857K | $1.1M | +31.5% |
Summary: 07724 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.6%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 31.5%.
Housing Supply in 07724, NJ
How many homes are available in 07724, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
56 | 61 | +8.9% |
Summary: The 07724 real estate market had 61 homes for sale in March 2024, a 8.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 9 | +50.0% |
2 Bedrooms | 10 | 11 | +10.0% |
3 Bedrooms | 19 | 20 | +5.3% |
4 Bedrooms | 17 | 15 | -11.8% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The 07724 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 5.3%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 13 | +18.2% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 07724 in March 2024, up by 18.2% month-over-month. Of the 13 sold homes, 8% were sold under asking, 23% were sold at asking, and 69% were sold over asking.
Days on Market for 07724, NJ
How long does it take to sell a home in 07724, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 20 Days | -33.5% |
Summary: Homes in 07724 had an average of 20 days on market in Mar 2024, down by 33.5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in 07724; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.