Is 07901, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 07901 was a Seller's Market.
Key Takeaway
07901 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 07901, NJ
How much do homes in 07901, NJ cost?
Median Sold Price
$1,225,000
$355/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 07901 have sold for 10.1% more than they did a year ago.
Summary: The median home sold price in 07901 was $1,225,000 in April 2024, up 10.1% from last year, and the median price per square foot was $355.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $331.8K | $302.5K | -8.8% |
| 2 Bedrooms | $465K | $481K | +3.4% |
| 3 Bedrooms | $785K | $826K | +5.2% |
| 4 Bedrooms | $1.1M | $1.4M | +24.5% |
| 5+ Bedrooms | $1.9M | $1.9M | -2.6% |
Summary: 07901 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.8%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 24.5%, and 5+ bedroom homes decreased by 2.6%.
Housing Supply in 07901, NJ
How many homes are available in 07901, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 | 79 | +41.1% |
Summary: The 07901 real estate market had 79 homes for sale in April 2024, a 41.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 11 | 17 | +54.5% |
| 4 Bedrooms | 15 | 26 | +73.3% |
| 5+ Bedrooms | 24 | 30 | +25.0% |
Summary: The 07901 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 54.5%, 4 bedroom homes increased by 73.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 13 | +30.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07901, you could pay more than the asking price. 76.9% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 07901 in April 2024, up by 30.0% month-over-month. Of the 13 sold homes, 15% were sold under asking, 8% were sold at asking, and 77% were sold over asking.
Days on Market for 07901, NJ
We’re sorry, we don't have information for this market at the moment
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