Is 07043, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07043 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 07043 was a Buyer's Market.

Key Takeaway

07043 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07043, NJ

How much do homes in 07043, NJ cost?

Median Sold Price

$1,412,067

-

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$81,808(+6.1%)

Key Takeaway

Homes in 07043 have sold for 6.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $300K$345.5K
+15.2%
2 $512K$536K
+4.7%
3 $830K$960K
+15.7%
4 $1.2M$1.3M
+7.8%
5+ $1.6M$1.6M
+4.5%

Summary: 07043 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 4.5%.

Median Sold Price Compared To Nearby Zip Codes

07028
+28.8%
07042
+10.4%
07009
+9.7%
07013
+6.6%
07043
+6.1%

Housing Supply in 07043, NJ

How many homes are available in 07043, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3536+2.9%

Summary: The 07043 real estate market had 36 homes for sale in October 2024, a 2.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 33
0.0%
2 10
-100.0%
3 66
0.0%
4 98
-11.1%
5+ 1619
+18.8%

Summary: The 07043 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 decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 18.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
87-12.5%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07043, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in 07043 in October 2024, down by 12.5% month-over-month. Of the 7 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for 07043, NJ

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in 07043, NJ

Nearby Markets to 07043, NJ