$4,026 Closing Credit*
$339,000
2 Beds
•1 Full Bath
Janice M. Rannou, Listing Office: Berkshire Hathaway Home Services Fox & Roach Realtors - Montclair
Is 07042, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 07042 was a Seller's Market.
Key Takeaway
07042 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 07042, NJ
How much do homes in 07042, NJ cost?
Median Sold Price
$1,075,000
$348/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$125,000(+13.2%)
Key Takeaway
Homes in 07042 have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in 07042 was $1,075,000 in November 2024, up 13.2% from last year, and the median price per square foot was $348.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $315K | +14.5% |
| 2 Bedrooms | $415K | $490K | +18.1% |
| 3 Bedrooms | $593.9K | $707.5K | +19.1% |
| 4 Bedrooms | $938.5K | $1.0M | +11.6% |
| 5+ Bedrooms | $1.5M | $1.5M | -0.7% |
Summary: 07042 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.5%, 2 bedroom homes increased by 18.1%, 3 bedroom homes increased by 19.1%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes decreased by 0.7%.
Housing Supply in 07042, NJ
How many homes are available in 07042, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 76 | 82 | +7.9% |
Summary: The 07042 real estate market had 82 homes for sale in November 2024, a 7.9% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 12 | 12 | 0.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 14 | 14 | 0.0% |
| 5+ Bedrooms | 40 | 44 | +10.0% |
Summary: The 07042 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07042, you could pay more than the asking price. 91.7% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in 07042 in November 2024, the same as the previous month. Of the 12 sold homes, 8% were sold under asking, 0% were sold at asking, and 92% were sold over asking.
Days on Market for 07042, NJ
We’re sorry, we don't have information for this market at the moment
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 © 2024 Realty Multiple Listing System, Inc. Incorporated in 1952 (aka RMLS, Hudson County MLS). All rights reserved.