Is 07860, 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, 07860 was a Seller's Market.
Key Takeaway
07860 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 07860, NJ
How much do homes in 07860, NJ cost?
Median Sold Price
$370,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07860 have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in 07860 was $370,000 in March 2024, up 8.8% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $234.5K | $210K | -10.4% |
| 2 Bedrooms | $283.7K | $285K | 0.4% |
| 3 Bedrooms | $335K | $365.5K | +9.1% |
| 4 Bedrooms | $450K | $460K | +2.2% |
| 5+ Bedrooms | $664K | $577K | -13.1% |
Summary: 07860 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.4%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes decreased by 13.1%.
Housing Supply in 07860, NJ
How many homes are available in 07860, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 81 | 96 | +18.5% |
Summary: The 07860 real estate market had 96 homes for sale in March 2024, a 18.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 14 | 18 | +28.6% |
| 3 Bedrooms | 37 | 39 | +5.4% |
| 4 Bedrooms | 23 | 25 | +8.7% |
| 5+ Bedrooms | 5 | 11 | +120.0% |
Summary: The 07860 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 120%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 15 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07860, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in 07860 in March 2024, the same as the previous month. Of the 15 sold homes, 27% were sold under asking, 20% were sold at asking, and 53% were sold over asking.
Days on Market for 07860, NJ
We’re sorry, we don't have information for this market at the moment
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