Is 07853, 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, 07853 has remained a Seller's Market.
Key Takeaway
07853 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07853, NJ
How much do homes in 07853, NJ cost?
Median Sold Price
$711,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07853 have sold for 14.7% more than they did a year ago.
Summary: The median home sold price in 07853 was $711,000 in March 2024, up 14.7% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $307.5K | $1.0M | +241.5% |
| 2 Bedrooms | $350K | $420K | +20.0% |
| 3 Bedrooms | $489K | $510K | +4.3% |
| 4 Bedrooms | $651K | $750K | +15.2% |
| 5+ Bedrooms | $725K | $885K | +22.1% |
Summary: 07853 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 241.5%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes increased by 22.1%.
Housing Supply in 07853, NJ
How many homes are available in 07853, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 38 | +11.8% |
Summary: The 07853 real estate market had 38 homes for sale in March 2024, a 11.8% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 20 | 24 | +20.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 07853 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 decreased by 9.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07853, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 07853 in March 2024, up by 33.3% month-over-month. Of the 8 sold homes, 0% were sold under asking, 13% were sold at asking, and 88% were sold over asking.
Days on Market for 07853, NJ
We’re sorry, we don't have information for this market at the moment
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