Is 07876, 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, 07876 was a Neutral Market.
Key Takeaway
07876 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07876, NJ
How much do homes in 07876, NJ cost?
Median Sold Price
$587,000
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07876 have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in 07876 was $587,000 in March 2024, up 10.9% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $320K | $362K | +13.1% |
| 3 Bedrooms | $472.5K | $539K | +14.1% |
| 4 Bedrooms | $597.5K | $609K | +1.9% |
| 5+ Bedrooms | $570K | $651.5K | +14.3% |
Summary: 07876 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 14.1%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 14.3%.
Median Sold Price Compared To Nearby Zip Codes
| 07836 | $555K | $620K | +11.7% |
| 07876 | $529.5K | $587K | +10.9% |
| 07852 | $379.2K | $413.5K | +9.0% |
| 07803 | $410K | $419K | +2.2% |
Housing Supply in 07876, NJ
How many homes are available in 07876, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 23 | +35.3% |
Summary: The 07876 real estate market had 23 homes for sale in March 2024, a 35.3% 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 7 | 10 | +42.9% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 07876 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 42.9%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07876, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in 07876 in March 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 07876, NJ
How long does it take to sell a home in 07876, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 07876 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in 07876; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
