Is 07010, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07010 is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, 07010 has remained a Buyer's Market.

Key Takeaway

07010 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 07010, NJ

How much do homes in 07010, NJ cost?

Median Sold Price

$679,000

$521/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$761,000(-52.8%)

Key Takeaway

Homes in 07010 have sold for 52.8% less than they did a month ago.

Summary: The median home sold price in 07010 was $679,000 in November 2024, down 52.8% from last month, and the median price per square foot was $521.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 -$625K
N/A
3 $1.4M-
N/A
4 -$679K
N/A
5+ --
N/A

Summary: 07010 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 07010, NJ

How many homes are available in 07010, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
6479+23.4%

Summary: The 07010 real estate market had 79 homes for sale in November 2024, a 23.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 610
+66.7%
2 2831
+10.7%
3 2027
+35.0%
4 67
+16.7%
5+ 44
0.0%

Summary: The 07010 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 35%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
45+25.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07010, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 07010 in November 2024, up by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for 07010, NJ

How long does it take to sell a home in 07010, NJ?

Average Sale Time

Oct 2024Nov 2024CHANGE
30 Days30 Days-0.8%

Summary: Homes in 07010 had an average of 30 days on market in Nov 2024, down by 0.8% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07010 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 5 homes were sold in 07010; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% 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 21 Days Ago

Newest Listings in 07010, NJ

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