$5,926 Closing Credit*
$499,000
2,636 SqFt
7 Beds
•1 Full Bath
Listing Office: COLDWELL BANKER REALTY
Is 07005, 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, 07005 was a Seller's Market.
Key Takeaway
07005 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07005, NJ
How much do homes in 07005, NJ cost?
Median Sold Price
$653,000
$516/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$38,000(+6.2%)
Key Takeaway
Homes in 07005 have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in 07005 was $653,000 in November 2024, up 6.2% from last year, and the median price per square foot was $516.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $505K | N/A |
| 2 Bedrooms | $450.5K | $500K | +11.0% |
| 3 Bedrooms | $559K | $605.5K | +8.3% |
| 4 Bedrooms | $677K | $719K | +6.2% |
| 5+ Bedrooms | $955K | $980.5K | +2.7% |
Summary: 07005 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 2.7%.
Housing Supply in 07005, NJ
How many homes are available in 07005, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 48 | 44 | -8.3% |
Summary: The 07005 real estate market had 44 homes for sale in November 2024, a 8.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 15 | 14 | -6.7% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 17 | 16 | -5.9% |
Summary: The 07005 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 decreased by 25%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 5.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07005, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 07005 in November 2024, down by 37.5% month-over-month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for 07005, NJ
We’re sorry, we don't have information for this market at the moment
