$5,759 Closing Credit*
$485,000
3 Beds
•1 Full Bath, 1 Partial
Listing Office: FEDERATED HOMES REALTY, INC.
Is 07003, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 07003 was a Seller's Market.
Key Takeaway
07003 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07003, NJ
How much do homes in 07003, NJ cost?
Median Sold Price
$588,950
$364/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$73,950(+14.4%)
Key Takeaway
Homes in 07003 have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in 07003 was $588,950 in November 2024, up 14.4% from last year, and the median price per square foot was $364.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $231K | $294K | +27.3% |
| 2 Bedrooms | $352.5K | $405K | +14.9% |
| 3 Bedrooms | $528K | $593K | +12.3% |
| 4 Bedrooms | $560K | $627.5K | +12.1% |
| 5+ Bedrooms | $650K | $635K | -2.3% |
Summary: 07003 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.3%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes decreased by 2.3%.
Housing Supply in 07003, NJ
How many homes are available in 07003, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 95 | 111 | +16.8% |
Summary: The 07003 real estate market had 111 homes for sale in November 2024, a 16.8% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 11 | 16 | +45.5% |
| 3 Bedrooms | 38 | 47 | +23.7% |
| 4 Bedrooms | 20 | 20 | 0.0% |
| 5+ Bedrooms | 19 | 21 | +10.5% |
Summary: The 07003 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 45.5%, 3 bedroom homes increased by 23.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 7 | -70.8% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07003, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 07003 in November 2024, down by 70.8% month-over-month. Of the 7 sold homes, 0% were sold under asking, 29% were sold at asking, and 71% were sold over asking.
Days on Market for 07003, NJ
We’re sorry, we don't have information for this market at the moment
