Is 07740, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07740 is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, 07740 was a Seller's Market.

Key Takeaway

07740 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 07740, NJ

How much do homes in 07740, NJ cost?

Median Sold Price

$790,000

$483/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$51,000(+6.9%)

Key Takeaway

Homes in 07740 have sold for 6.9% more than they did a year ago.

Summary: The median home sold price in 07740 was $790,000 in September 2024, up 6.9% from last year, and the median price per square foot was $483.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $550K$385.5K
-29.9%
2 $708.2K$742K
+4.8%
3 $665K$739K
+11.1%
4 $850K$995K
+17.1%
5+ $1.3M$1.3M
0.5%

Summary: 07740 housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.9%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 0.5%.

Median Sold Price Compared To Nearby Zip Codes

07755
+7.9%
07740
+6.9%
07750
+4.4%
07764
+1.2%
07757
-1.7%

Housing Supply in 07740, NJ

How many homes are available in 07740, NJ?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
162160-1.2%

Summary: The 07740 real estate market had 160 homes for sale in September 2024, a 1.2% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 1817
-5.6%
2 4240
-4.8%
3 3632
-11.1%
4 3538
+8.6%
5+ 3133
+6.5%

Summary: The 07740 housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.6%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 6.5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2414-41.7%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07740, you may be able to get a good deal. 92.9% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 07740 in September 2024, down by 41.7% month-over-month. Of the 14 sold homes, 93% were sold under asking, 7% were sold at asking, and 0% were sold over asking.

Days on Market for 07740, NJ

How long does it take to sell a home in 07740, NJ?

Average Sale Time

Sep 2023Sep 2024CHANGE
54 Days65 Days+20.9%

Summary: Homes in 07740 had an average of 65 days on market in Sep 2024, up by 20.9% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 07740 has remained consistent over time.

Summary: During September 2024, 14 homes were sold in 07740; 14% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 14% 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 30 Days Ago

Newest Listings in 07740, NJ

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