$9,488 Closing Credit*
$799,000
4 Beds
•2 Full Baths
Rebecca LaPira, Listing Office: RE/MAX Signature Homes
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 Seller's Market.
Key Takeaway
07031 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07031, NJ
How much do homes in 07031, NJ cost?
Median Sold Price
$592,500
-
Based on all homes sold in October 2024.
Difference Since Last Month
-$37,500(-6.0%)
Key Takeaway
Homes in 07031 have sold for 6% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $485K | - | N/A |
| 3 Bedrooms | - | $625K | N/A |
| 4 Bedrooms | $640K | $560K | -12.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: 07031 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 did not change, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes did not change.
Housing Supply in 07031, NJ
How many homes are available in 07031, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 30 | +76.5% |
Summary: The 07031 real estate market had 30 homes for sale in October 2024, a 76.5% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 5 | 13 | +160.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 07031 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 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 160%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07031, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in 07031 in October 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 07031, NJ
We’re sorry, we don't have information for this market at the moment
