$8,182 Closing Credit*
$689,000
3 Beds
•2 Full Baths, 1 Partial
Listing Office: RE/MAX FIRST CHOICE
Is 07054, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 07054 has remained a Seller's Market.
Key Takeaway
07054 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07054, NJ
How much do homes in 07054, NJ cost?
Median Sold Price
$690,000
$354/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$84,000(+13.9%)
Key Takeaway
Homes in 07054 have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in 07054 was $690,000 in December 2024, up 13.9% from last year, and the median price per square foot was $354.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $240K | +17.1% |
| 2 Bedrooms | $475K | $500K | +5.3% |
| 3 Bedrooms | $540K | $615K | +13.9% |
| 4 Bedrooms | $675K | $717K | +6.2% |
| 5+ Bedrooms | $731K | $875K | +19.7% |
Summary: 07054 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 19.7%.
Median Sold Price Compared To Nearby Zip Codes
| 07034 | $407.5K | $507.5K | +24.5% |
| 07046 | $940K | $1.1M | +17.1% |
| 07054 | $606K | $690K | +13.9% |
| 07981 | $606.2K | $670K | +10.5% |
Housing Supply in 07054, NJ
How many homes are available in 07054, NJ?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 54 | 46 | -14.8% |
Summary: The 07054 real estate market had 46 homes for sale in December 2024, a 14.8% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 15 | 20 | +33.3% |
| 4 Bedrooms | 27 | 19 | -29.6% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 07054 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 29.6%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 16 | 12 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07054, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in 07054 in December 2024, down by 25.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.
Days on Market for 07054, NJ
We’re sorry, we don't have information for this market at the moment
