Is 07924, 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, 07924 was a Seller's Market.
Key Takeaway
07924 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 07924, NJ
How much do homes in 07924, NJ cost?
Median Sold Price
$770,000
$350/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07924 have sold for 7.8% less than they did a year ago.
Summary: The median home sold price in 07924 was $770,000 in March 2024, down 7.8% from last year, and the median price per square foot was $350.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $249K | +8.3% |
| 2 Bedrooms | $1.1M | $510K | -53.8% |
| 3 Bedrooms | $610K | $655K | +7.4% |
| 4 Bedrooms | $842.5K | $866.5K | +2.8% |
| 5+ Bedrooms | $1.6M | $1.8M | +15.4% |
Summary: 07924 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes decreased by 53.8%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 15.4%.
Housing Supply in 07924, NJ
How many homes are available in 07924, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 37 | +27.6% |
Summary: The 07924 real estate market had 37 homes for sale in March 2024, a 27.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The 07924 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 increased by 66.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07924, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 07924 in March 2024, up by 50.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.
Days on Market for 07924, NJ
How long does it take to sell a home in 07924, 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 07924 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 07924; 17% 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.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.