$7,273 Closing Credit*
$612,500
1,912 SqFt
4 Beds
•1 Full Bath
Listing Office: VILLAGE GREEN REALTORS
Is 07016, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 07016 has remained a Seller's Market.
Key Takeaway
07016 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07016, NJ
How much do homes in 07016, NJ cost?
Median Sold Price
$750,000
$360/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$83,000(+12.4%)
Key Takeaway
Homes in 07016 have sold for 12.4% more than they did a year ago.
Summary: The median home sold price in 07016 was $750,000 in November 2024, up 12.4% from last year, and the median price per square foot was $360.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $264K | $332.5K | +25.9% |
| 2 Bedrooms | $401K | $419K | +4.5% |
| 3 Bedrooms | $611K | $690K | +12.9% |
| 4 Bedrooms | $735K | $837.5K | +13.9% |
| 5+ Bedrooms | $938.5K | $1.0M | +13.2% |
Summary: 07016 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.9%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 13.2%.
Housing Supply in 07016, NJ
How many homes are available in 07016, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 56 | 59 | +5.4% |
Summary: The 07016 real estate market had 59 homes for sale in November 2024, a 5.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 22 | 23 | +4.5% |
| 4 Bedrooms | 20 | 20 | 0.0% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The 07016 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 4.5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07016, you could pay more than the asking price. 84.6% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 07016 in November 2024, up by 8.3% month-over-month. Of the 13 sold homes, 8% were sold under asking, 8% were sold at asking, and 85% were sold over asking.
Days on Market for 07016, NJ
We’re sorry, we don't have information for this market at the moment
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