Is 07885, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07885 is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, 07885 has remained a Seller's Market.

Key Takeaway

07885 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07885, NJ

How much do homes in 07885, NJ cost?

Median Sold Price

$435,000

$313/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$43,500(+11.1%)

Key Takeaway

Homes in 07885 have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in 07885 was $435,000 in April 2024, up 11.1% from last year, and the median price per square foot was $313.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $205K$310K
+51.2%
2 $350K$384.1K
+9.8%
3 $415K$437.5K
+5.4%
4 $456K$485K
+6.4%
5+ $480K$667K
+39.0%

Summary: 07885 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 51.2%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 39%.

Median Sold Price Compared To Nearby Zip Codes

07856
+15.8%
07866
+13.0%
07801
+12.9%
07885
+11.1%
07849
-6.5%

Housing Supply in 07885, NJ

How many homes are available in 07885, NJ?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2023+15.0%

Summary: The 07885 real estate market had 23 homes for sale in April 2024, a 15.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 710
+42.9%
3 77
0.0%
4 66
0.0%
5+ 00
0.0%

Summary: The 07885 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
37+133.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07885, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in 07885 in April 2024, up by 133.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.

Days on Market for 07885, NJ

How long does it take to sell a home in 07885, NJ?

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 07885 has remained consistent over time.

Summary: During April 2024, 7 homes were sold in 07885; 0% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

Newest Listings in 07885, NJ

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