Is 07052, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07052 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 07052 was a Seller's Market.

Key Takeaway

07052 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 07052, NJ

How much do homes in 07052, NJ cost?

Median Sold Price

$612,000

$312/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,000(+2.0%)

Key Takeaway

Homes in 07052 have sold for 2% more than they did a year ago.

Summary: The median home sold price in 07052 was $612,000 in October 2024, up 2% from last year, and the median price per square foot was $312.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $229.9K$312.5K
+35.9%
2 $440K$480K
+9.1%
3 $563K$585K
+3.9%
4 $682K$720K
+5.6%
5+ $811K$994.9K
+22.7%

Summary: 07052 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.9%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 22.7%.

Median Sold Price Compared To Nearby Zip Codes

07050
+25.4%
07042
+10.4%
07079
+4.4%
07052
+2.0%

Housing Supply in 07052, NJ

How many homes are available in 07052, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
158190+20.3%

Summary: The 07052 real estate market had 190 homes for sale in October 2024, a 20.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 34
+33.3%
2 2529
+16.0%
3 6882
+20.6%
4 4452
+18.2%
5+ 1823
+27.8%

Summary: The 07052 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 27.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3327-18.2%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07052, you could pay more than the asking price. 81.5% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in 07052 in October 2024, down by 18.2% month-over-month. Of the 27 sold homes, 15% were sold under asking, 4% were sold at asking, and 81% were sold over asking.

Days on Market for 07052, 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 4 Days Ago

Newest Listings in 07052, NJ

Nearby Markets to 07052, NJ