Is 07840, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 07840 was a Seller's Market.
Key Takeaway
07840 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 07840, NJ
How much do homes in 07840, NJ cost?
Median Sold Price
$435,000
$391/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07840 have sold for 9% more than they did a year ago.
Summary: The median home sold price in 07840 was $435,000 in April 2024, up 9% from last year, and the median price per square foot was $391.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $201K | $230K | +14.4% |
| 2 Bedrooms | $287K | $325K | +13.2% |
| 3 Bedrooms | $384.9K | $444.2K | +15.4% |
| 4 Bedrooms | $500K | $525K | +5.0% |
| 5+ Bedrooms | $590K | $625K | +5.9% |
Summary: 07840 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 5.9%.
Housing Supply in 07840, NJ
How many homes are available in 07840, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 73 | 86 | +17.8% |
Summary: The 07840 real estate market had 86 homes for sale in April 2024, a 17.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 30 | 32 | +6.7% |
| 4 Bedrooms | 26 | 36 | +38.5% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 07840 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 14 | -22.2% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07840, you could pay more than the asking price. 78.6% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in 07840 in April 2024, down by 22.2% month-over-month. Of the 14 sold homes, 0% were sold under asking, 21% were sold at asking, and 79% were sold over asking.
Days on Market for 07840, NJ
We’re sorry, we don't have information for this market at the moment
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