$7,422 Closing Credit*
$625,000
3 Beds
•3 Full Baths
Artur Tyszka, Listing Office: Keller Williams Prosperity Realty
Is 07031, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 07031 was a Buyer's Market.
Key Takeaway
07031 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07031, NJ
How much do homes in 07031, NJ cost?
Median Sold Price
$500,000
-
Based on all homes sold in November 2024.
Difference Since Last Month
-$92,500(-15.6%)
Key Takeaway
Homes in 07031 have sold for 15.6% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $625K | $500K | -20.0% |
| 4 Bedrooms | $560K | $475K | -15.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: 07031 housing prices by bedroom type for November 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 decreased by 20%, 4 bedroom homes decreased by 15.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 07071 | $590K | $970K | +64.4% |
| 07031 | $592.5K | $500K | -15.6% |
Housing Supply in 07031, NJ
How many homes are available in 07031, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 26 | +18.2% |
Summary: The 07031 real estate market had 26 homes for sale in November 2024, a 18.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The 07031 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 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07031, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 07031 in November 2024, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 07031, NJ
How long does it take to sell a home in 07031, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 07031 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in 07031; 17% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
