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 21 Days Ago

Newest Listings in 07044, NJ

Nearby Markets to 07044, NJ