Is 07823, 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, 07823 has remained a Seller's Market.
Key Takeaway
07823 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07823, NJ
How much do homes in 07823, NJ cost?
Median Sold Price
$345,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07823 have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in 07823 was $345,000 in March 2024, up 10.4% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $229.5K | $279.9K | +22.0% |
| 3 Bedrooms | $307.5K | $353.5K | +15.0% |
| 4 Bedrooms | $401.2K | $440K | +9.7% |
| 5+ Bedrooms | $292.5K | $350K | +19.7% |
Summary: 07823 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 19.7%.
Housing Supply in 07823, NJ
How many homes are available in 07823, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 46 | +24.3% |
Summary: The 07823 real estate market had 46 homes for sale in March 2024, a 24.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 16 | +33.3% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 07823 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 33.3%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07823, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in 07823 in March 2024, up by 50.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for 07823, NJ
We’re sorry, we don't have information for this market at the moment
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