$4,738 Closing Credit*
$399,000
1,523 SqFt
3 Beds
•1 Full Bath
Listing Office: WEICHERT REALTORS
Is 07003, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 07003 has remained a Seller's Market.
Key Takeaway
07003 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07003, NJ
How much do homes in 07003, NJ cost?
Median Sold Price
$578,333
$307/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$82,333(+16.6%)
Key Takeaway
Homes in 07003 have sold for 16.6% more than they did a year ago.
Summary: The median home sold price in 07003 was $578,333 in October 2024, up 16.6% from last year, and the median price per square foot was $307.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $228K | $293K | +28.5% |
| 2 Bedrooms | $336K | $438K | +30.4% |
| 3 Bedrooms | $510K | $602.5K | +18.1% |
| 4 Bedrooms | $535K | $620K | +15.9% |
| 5+ Bedrooms | $625K | $662.5K | +6.0% |
Summary: 07003 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.5%, 2 bedroom homes increased by 30.4%, 3 bedroom homes increased by 18.1%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes increased by 6%.
Housing Supply in 07003, NJ
How many homes are available in 07003, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 106 | 116 | +9.4% |
Summary: The 07003 real estate market had 116 homes for sale in October 2024, a 9.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 16 | 17 | +6.3% |
| 3 Bedrooms | 39 | 44 | +12.8% |
| 4 Bedrooms | 28 | 24 | -14.3% |
| 5+ Bedrooms | 17 | 24 | +41.2% |
Summary: The 07003 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 12.8%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 41.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 23 | +27.8% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07003, you could pay more than the asking price. 95.7% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in 07003 in October 2024, up by 27.8% month-over-month. Of the 23 sold homes, 0% were sold under asking, 4% were sold at asking, and 96% were sold over asking.
Days on Market for 07003, NJ
How long does it take to sell a home in 07003, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 19 Days | -9.5% |
Summary: Homes in 07003 had an average of 19 days on market in Oct 2024, down by 9.5% compared to last year.
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 07003 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 23 homes were sold in 07003; 4% 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.
