$10,000 Closing Credit*
$875,000
8 Beds
•3 Full Baths
Listing Office: CHRISTIE'S INT. REAL ESTATE GROUP
Is 07011, 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, 07011 was a Seller's Market.
Key Takeaway
07011 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07011, NJ
How much do homes in 07011, NJ cost?
Median Sold Price
$530,000
$357/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$80,000(+17.8%)
Key Takeaway
Homes in 07011 have sold for 17.8% more than they did a year ago.
Summary: The median home sold price in 07011 was $530,000 in November 2024, up 17.8% from last year, and the median price per square foot was $357.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $186.2K | $233K | +25.1% |
| 2 Bedrooms | $367K | $428.7K | +16.8% |
| 3 Bedrooms | $470K | $540K | +14.9% |
| 4 Bedrooms | $487.5K | $560K | +14.9% |
| 5+ Bedrooms | $640K | $628.2K | -1.8% |
Summary: 07011 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.1%, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Zip Codes
| 07011 | $450K | $530K | +17.8% |
| 07013 | $525K | $570K | +8.6% |
Housing Supply in 07011, NJ
How many homes are available in 07011, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 57 | 64 | +12.3% |
Summary: The 07011 real estate market had 64 homes for sale in November 2024, a 12.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 19 | 19 | 0.0% |
| 4 Bedrooms | 21 | 23 | +9.5% |
| 5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The 07011 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 150%, 3 bedroom homes remained the same, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07011, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 07011 in November 2024, down by 36.4% month-over-month. Of the 7 sold homes, 14% were sold under asking, 0% were sold at asking, and 86% were sold over asking.
Days on Market for 07011, NJ
How long does it take to sell a home in 07011, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 07011 has remained consistent over time.
Summary: During November 2024, 7 homes were sold in 07011; 0% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
