$10,000 Closing Credit*
$899,000
3 Beds
•2 Full Baths, 1 Partial
Christine Lane, Listing Office: Compass New Jersey, LLC-Montclair
Is 07028, 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, 07028 has remained a Seller's Market.
Key Takeaway
07028 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07028, NJ
How much do homes in 07028, NJ cost?
Median Sold Price
$1,053,000
-
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$235,500(+28.8%)
Key Takeaway
Homes in 07028 have sold for 28.8% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $159K | $187.5K | +17.9% |
| 2 Bedrooms | $515K | $327.5K | -36.4% |
| 3 Bedrooms | $753K | $911K | +21.0% |
| 4 Bedrooms | $830K | $1.0M | +24.1% |
| 5+ Bedrooms | $1.3M | $1.3M | -6.5% |
Summary: 07028 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.9%, 2 bedroom homes decreased by 36.4%, 3 bedroom homes increased by 21%, 4 bedroom homes increased by 24.1%, and 5+ bedroom homes decreased by 6.5%.
Housing Supply in 07028, NJ
How many homes are available in 07028, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Summary: The 07028 real estate market had 18 homes for sale in October 2024, a 12.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 07028 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 remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 33.3%.
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 07028, 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 07028 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 07028, NJ
We’re sorry, we don't have information for this market at the moment
