$7,124 Closing Credit*
$599,900
3 Beds
•2 Full Baths
Listing Office: COLDWELL BANKER REALTY
Is 07023, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 07023 has remained a Seller's Market.
Key Takeaway
07023 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07023, NJ
How much do homes in 07023, NJ cost?
Median Sold Price
$722,500
$434/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$72,500(+11.2%)
Key Takeaway
Homes in 07023 have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in 07023 was $722,500 in October 2024, up 11.2% from last year, and the median price per square foot was $434.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $412.5K | $400K | -3.0% |
| 3 Bedrooms | $620K | $680K | +9.7% |
| 4 Bedrooms | $675K | $757.5K | +12.2% |
| 5+ Bedrooms | $685.5K | $865.5K | +26.3% |
Summary: 07023 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 26.3%.
Median Sold Price Compared To Nearby Zip Codes
| 07023 | $650K | $722.5K | +11.2% |
| 07076 | $707K | $765K | +8.2% |
Housing Supply in 07023, NJ
How many homes are available in 07023, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 19 | +11.8% |
Summary: The 07023 real estate market had 19 homes for sale in October 2024, a 11.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 07023 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 remained the same, 3 bedroom homes increased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07023, 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 07023 in October 2024, up by 50.0% 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 07023, NJ
We’re sorry, we don't have information for this market at the moment
