Is 07874, 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, 07874 has remained a Seller's Market.
Key Takeaway
07874 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07874, NJ
How much do homes in 07874, NJ cost?
Median Sold Price
$380,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07874 have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in 07874 was $380,000 in March 2024, up 13.4% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $249K | +21.5% |
| 2 Bedrooms | $272.5K | $290K | +6.4% |
| 3 Bedrooms | $355K | $397.5K | +12.0% |
| 4 Bedrooms | $427.5K | $435K | +1.8% |
| 5+ Bedrooms | $475K | $475K | 0.0% |
Summary: 07874 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.5%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes did not change.
Housing Supply in 07874, NJ
How many homes are available in 07874, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 37 | +12.1% |
Summary: The 07874 real estate market had 37 homes for sale in March 2024, a 12.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 8 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 12 | 17 | +41.7% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 07874 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 remained the same, 3 bedroom homes increased by 41.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07874, 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 07874 in March 2024, up by 125.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 22% were sold at asking, and 67% were sold over asking.
Days on Market for 07874, NJ
We’re sorry, we don't have information for this market at the moment
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