$10,000 Closing Credit*
$1,550,000
4 Beds
•3 Full Baths, 1 Partial
Listing Office: COLDWELL BANKER REALTY
Is 07040, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 07040 has remained a Seller's Market.
Key Takeaway
07040 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07040, NJ
How much do homes in 07040, NJ cost?
Median Sold Price
$968,966
-
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$149,966(+18.3%)
Key Takeaway
Homes in 07040 have sold for 18.3% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $237K | $262K | +10.5% |
| 2 Bedrooms | $437K | $375K | -14.2% |
| 3 Bedrooms | $603.5K | $751.5K | +24.5% |
| 4 Bedrooms | $892K | $998.5K | +11.9% |
| 5+ Bedrooms | $1.3M | $1.4M | +4.6% |
Summary: 07040 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes decreased by 14.2%, 3 bedroom homes increased by 24.5%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 4.6%.
Housing Supply in 07040, NJ
How many homes are available in 07040, NJ?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 70 | 55 | -21.4% |
Summary: The 07040 real estate market had 55 homes for sale in December 2024, a 21.4% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 22 | 15 | -31.8% |
| 4 Bedrooms | 25 | 17 | -32.0% |
| 5+ Bedrooms | 14 | 14 | 0.0% |
Summary: The 07040 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 31.8%, 4 bedroom homes decreased by 32%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 24 | 16 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07040, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in 07040 in December 2024, down by 33.3% month-over-month. Of the 16 sold homes, 6% were sold under asking, 6% were sold at asking, and 88% were sold over asking.
Days on Market for 07040, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2025 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2025, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
The data relating to real estate for sale or rent on this web site comes in part from the IDX program of the HCMLS. Real estate listings held by brokerage firms other than this broker are marked with the HCIDX mark and the information about them includes the name of the listing broker. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright © 2025 Realty Multiple Listing System, Inc. Incorporated in 1952 (aka RMLS, Hudson County MLS). All rights reserved.