$4,618 Closing Credit*
$388,900
1,200 SqFt
2 Beds
•1 Full Bath
Listing Office: WEST HOBOKEN RESIDENTIAL LLC
Is 07047, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 07047 has remained a Seller's Market.
Key Takeaway
07047 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07047, NJ
How much do homes in 07047, NJ cost?
Median Sold Price
$522,500
$394/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$27,499(-5.0%)
Key Takeaway
Homes in 07047 have sold for 5% less than they did a year ago.
Summary: The median home sold price in 07047 was $522,500 in November 2024, down 5% from last year, and the median price per square foot was $394.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $275K | +10.0% |
| 2 Bedrooms | $450K | $417.5K | -7.2% |
| 3 Bedrooms | $557.5K | $520K | -6.7% |
| 4 Bedrooms | $588.5K | $675K | +14.7% |
| 5+ Bedrooms | $785K | $745K | -5.1% |
Summary: 07047 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 7.2%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes decreased by 5.1%.
Housing Supply in 07047, NJ
How many homes are available in 07047, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 132 | 118 | -10.6% |
Summary: The 07047 real estate market had 118 homes for sale in November 2024, a 10.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 21 | 18 | -14.3% |
| 2 Bedrooms | 36 | 35 | -2.8% |
| 3 Bedrooms | 33 | 33 | 0.0% |
| 4 Bedrooms | 15 | 7 | -53.3% |
| 5+ Bedrooms | 27 | 25 | -7.4% |
Summary: The 07047 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 53.3%, and 5+ bedroom homes decreased by 7.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 22 | +4.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07047, you could pay more than the asking price. 58.8% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in 07047 in November 2024, up by 4.8% month-over-month. Of the 17 sold homes, 35% were sold under asking, 6% were sold at asking, and 59% were sold over asking.
Days on Market for 07047, NJ
How long does it take to sell a home in 07047, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 69 Days | 28 Days | -58.4% |
Summary: Homes in 07047 had an average of 28 days on market in Nov 2024, down by 58.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 07047 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 22 homes were sold in 07047; 59% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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