Is 07843, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 07843 was a Seller's Market.
Key Takeaway
07843 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 07843, NJ
How much do homes in 07843, NJ cost?
Median Sold Price
$378,500
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07843 have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in 07843 was $378,500 in March 2024, up 14.4% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.5K | $215K | +28.4% |
| 2 Bedrooms | $265K | $290K | +9.4% |
| 3 Bedrooms | $355K | $385K | +8.5% |
| 4 Bedrooms | $427.5K | $440K | +2.9% |
| 5+ Bedrooms | $532.5K | $567K | +6.5% |
Summary: 07843 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.4%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 6.5%.
Housing Supply in 07843, NJ
How many homes are available in 07843, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 58 | 67 | +15.5% |
Summary: The 07843 real estate market had 67 homes for sale in March 2024, a 15.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 11 | 17 | +54.5% |
| 3 Bedrooms | 27 | 28 | +3.7% |
| 4 Bedrooms | 15 | 18 | +20.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 07843 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 54.5%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07843, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 07843 in March 2024, up by 22.2% month-over-month. Of the 11 sold homes, 9% were sold under asking, 27% were sold at asking, and 64% were sold over asking.
Days on Market for 07843, NJ
We’re sorry, we don't have information for this market at the moment
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.