Is 07731, 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, 07731 has remained a Seller's Market.
Housing Prices in 07731, NJ
How much do homes in 07731, NJ cost?
Median Sold Price
$575,083
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 07731 was $575,083 in March 2024, up 4.6% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $245.1K | $155.2K | -36.7% |
2 Bedrooms | $285K | $322.5K | +13.2% |
3 Bedrooms | $500K | $525K | +5.0% |
4 Bedrooms | $605K | $649.9K | +7.4% |
5+ Bedrooms | $635K | $685K | +7.9% |
Summary: 07731 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.7%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 7.9%.
Housing Supply in 07731, NJ
How many homes are available in 07731, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
133 | 129 | -3.0% |
Summary: The 07731 real estate market had 129 homes for sale in March 2024, a 3.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 17 | 17 | 0.0% |
3 Bedrooms | 51 | 46 | -9.8% |
4 Bedrooms | 46 | 48 | +4.3% |
5+ Bedrooms | 17 | 17 | 0.0% |
Summary: The 07731 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 34 | +21.4% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in 07731 in March 2024, up by 21.4% month-over-month. Of the 34 sold homes, 44% were sold under asking, 6% were sold at asking, and 50% were sold over asking.
Days on Market for 07731, NJ
How long does it take to sell a home in 07731, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 62 Days | +45.6% |
Summary: Homes in 07731 had an average of 62 days on market in Mar 2024, up by 45.6% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 34 homes were sold in 07731; 56% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.