Is 07470, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 07470 has remained a Seller's Market.
Key Takeaway
07470 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07470, NJ
How much do homes in 07470, NJ cost?
Median Sold Price
$635,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 07470 have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in 07470 was $635,000 in May 2024, up 5.3% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $273K | +9.2% |
| 2 Bedrooms | $420K | $468K | +11.4% |
| 3 Bedrooms | $575K | $605K | +5.2% |
| 4 Bedrooms | $700.9K | $734.5K | +4.8% |
| 5+ Bedrooms | $775K | $950K | +22.6% |
Summary: 07470 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 22.6%.
Housing Supply in 07470, NJ
How many homes are available in 07470, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 141 | 188 | +33.3% |
Summary: The 07470 real estate market had 188 homes for sale in May 2024, a 33.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 8 | -11.1% |
| 2 Bedrooms | 13 | 21 | +61.5% |
| 3 Bedrooms | 58 | 66 | +13.8% |
| 4 Bedrooms | 42 | 68 | +61.9% |
| 5+ Bedrooms | 19 | 25 | +31.6% |
Summary: The 07470 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 61.5%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 61.9%, and 5+ bedroom homes increased by 31.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 35 | +29.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07470, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in 07470 in May 2024, up by 29.6% month-over-month. Of the 35 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for 07470, NJ
We’re sorry, we don't have information for this market at the moment
