Is 07014, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07014 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 07014 was a Buyer's Market.

Key Takeaway

07014 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07014, NJ

How much do homes in 07014, NJ cost?

Median Sold Price

$545,500

$414/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$9,500(-1.7%)

Key Takeaway

Homes in 07014 have sold for 1.7% less than they did a month ago.

Summary: The median home sold price in 07014 was $545,500 in October 2024, down 1.7% from last month, and the median price per square foot was $414.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 -$540K
N/A
3 $555K$564K
+1.6%
4 --
N/A
5+ --
N/A

Summary: 07014 housing prices by bedroom type for October 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 increased by 1.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 07014, NJ

How many homes are available in 07014, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2327+17.4%

Summary: The 07014 real estate market had 27 homes for sale in October 2024, a 17.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 711
+57.1%
3 75
-28.6%
4 46
+50.0%
5+ 55
0.0%

Summary: The 07014 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 increased by 57.1%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
26+200.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07014, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in 07014 in October 2024, up by 200.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.

Days on Market for 07014, NJ

How long does it take to sell a home in 07014, NJ?

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

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07014 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 07014; 17% 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.

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 07014, NJ

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