Is 07734, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 07734 has remained a Seller's Market.
Housing Prices in 07734, NJ
How much do homes in 07734, NJ cost?
Median Sold Price
$335,000
$273/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 07734 was $335,000 in February 2024, up 6.9% from last year, and the median price per square foot was $273.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $184.9K | $192K | +3.8% |
2 Bedrooms | $270K | $235K | -13.0% |
3 Bedrooms | $339K | $360K | +6.2% |
4 Bedrooms | $360K | $415K | +15.3% |
5+ Bedrooms | $400K | $440K | +10.0% |
Summary: 07734 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.8%, 2 bedroom homes decreased by 13%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes increased by 10%.
Housing Supply in 07734, NJ
How many homes are available in 07734, NJ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
66 | 54 | -18.2% |
Summary: The 07734 real estate market had 54 homes for sale in February 2024, a 18.2% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 3 | -50.0% |
2 Bedrooms | 18 | 16 | -11.1% |
3 Bedrooms | 24 | 20 | -16.7% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 8 | 4 | -50.0% |
Summary: The 07734 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
15 | 10 | -33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in 07734 in February 2024, down by 33.3% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.
Days on Market for 07734, NJ
How long does it take to sell a home in 07734, NJ?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
27 Days | 54 Days | +101.3% |
Summary: Homes in 07734 had an average of 54 days on market in Feb 2024, up by 101.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 10 homes were sold in 07734; 30% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.