$6,983 Closing Credit*
$588,000
3 Beds
•2 Full Baths
Listing Office: HEIM REALTY,LLC
Is 07045, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 07045 has remained a Seller's Market.
Key Takeaway
07045 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07045, NJ
How much do homes in 07045, NJ cost?
Median Sold Price
$763,000
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$102,000(+15.4%)
Key Takeaway
Homes in 07045 have sold for 15.4% more than they did a year ago.
Summary: The median home sold price in 07045 was $763,000 in October 2024, up 15.4% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $307.5K | $322.5K | +4.9% |
| 2 Bedrooms | $524K | $605K | +15.5% |
| 3 Bedrooms | $612K | $652K | +6.5% |
| 4 Bedrooms | $824.5K | $955K | +15.8% |
| 5+ Bedrooms | $1.0M | $1.2M | +17.3% |
Summary: 07045 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.9%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 17.3%.
Median Sold Price Compared To Nearby Zip Codes
| 07034 | $390.5K | $490K | +25.5% |
| 07045 | $661K | $763K | +15.4% |
| 07082 | $710.8K | $797.5K | +12.2% |
| 07004 | $645K | $720K | +11.6% |
Housing Supply in 07045, NJ
How many homes are available in 07045, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 43 | +34.4% |
Summary: The 07045 real estate market had 43 homes for sale in October 2024, a 34.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 10 | 15 | +50.0% |
| 4 Bedrooms | 6 | 8 | +33.3% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The 07045 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07045, you could pay more than the asking price. 88.9% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in 07045 in October 2024, up by 125.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 0% were sold at asking, and 89% were sold over asking.
Days on Market for 07045, NJ
How long does it take to sell a home in 07045, 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
Key Takeaway
Many homes in 07045 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in 07045; 11% 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.
