$7,125 Closing Credit*
$600,000
4 Beds
•1 Full Bath, 1 Partial
Peter Lorenzo, Listing Office: Keller Williams Realty Metropolitan
Is 07005, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 07005 was a Seller's Market.
Key Takeaway
07005 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 07005, NJ
How much do homes in 07005, NJ cost?
Median Sold Price
$665,000
$516/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$58,000(+9.6%)
Key Takeaway
Homes in 07005 have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in 07005 was $665,000 in October 2024, up 9.6% from last year, and the median price per square foot was $516.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $505K | N/A |
| 2 Bedrooms | $449.5K | $493.7K | +9.8% |
| 3 Bedrooms | $549.5K | $595K | +8.3% |
| 4 Bedrooms | $646K | $722.5K | +11.8% |
| 5+ Bedrooms | $1.0M | $980.5K | -5.7% |
Summary: 07005 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 5.7%.
Housing Supply in 07005, NJ
How many homes are available in 07005, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 | 51 | +2.0% |
Summary: The 07005 real estate market had 51 homes for sale in October 2024, a 2.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 17 | 16 | -5.9% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The 07005 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 8 | -50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07005, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 07005 in October 2024, down by 50.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 07005, NJ
We’re sorry, we don't have information for this market at the moment
