Is 07044, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07044 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 07044 was a Seller's Market.

Key Takeaway

07044 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 07044, NJ

How much do homes in 07044, NJ cost?

Median Sold Price

$699,000

-

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$94,000(+15.5%)

Key Takeaway

Homes in 07044 have sold for 15.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $259K$296.3K
+14.4%
2 $512.5K$540K
+5.4%
3 $631K$690.5K
+9.4%
4 $699.7K$872K
+24.6%
5+ $925K$1.2M
+31.7%

Summary: 07044 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 24.6%, and 5+ bedroom homes increased by 31.7%.

Median Sold Price Compared To Nearby Zip Codes

07006
+16.0%
07044
+15.5%
07042
+10.4%
07009
+9.7%

Housing Supply in 07044, NJ

How many homes are available in 07044, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4253+26.2%

Summary: The 07044 real estate market had 53 homes for sale in October 2024, a 26.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1315
+15.4%
2 68
+33.3%
3 914
+55.6%
4 811
+37.5%
5+ 65
-16.7%

Summary: The 07044 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
108-20.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07044, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 8 homes were sold or pending in 07044 in October 2024, down by 20.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.

Days on Market for 07044, NJ

How long does it take to sell a home in 07044, NJ?

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07044 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in 07044; 13% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 4 Days Ago

Newest Listings in 07044, NJ

Nearby Markets to 07044, NJ