Is 07801, 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, 07801 has remained a Seller's Market.
Key Takeaway
07801 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07801, NJ
How much do homes in 07801, NJ cost?
Median Sold Price
$420,000
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07801 have sold for 5% more than they did a year ago.
Summary: The median home sold price in 07801 was $420,000 in March 2024, up 5% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $231K | $262.5K | +13.6% |
| 2 Bedrooms | $270K | $295K | +9.3% |
| 3 Bedrooms | $390K | $427K | +9.5% |
| 4 Bedrooms | $472.5K | $491K | +3.9% |
| 5+ Bedrooms | $495K | $612.5K | +23.7% |
Summary: 07801 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 23.7%.
Housing Supply in 07801, NJ
How many homes are available in 07801, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 34 | +21.4% |
Summary: The 07801 real estate market had 34 homes for sale in March 2024, a 21.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 10 | 15 | +50.0% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 07801 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 increased by 50%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 10 | +400.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07801, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 07801 in March 2024, up by 400.0% month-over-month. Of the 10 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for 07801, NJ
We’re sorry, we don't have information for this market at the moment
