$10,000 Closing Credit*
$1,350,000
2 Beds
•3 Full Baths
Listing Office: WEICHERT REALTORS
Is 07059, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 07059 was a Seller's Market.
Key Takeaway
07059 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07059, NJ
How much do homes in 07059, NJ cost?
Median Sold Price
$1,195,000
$381/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$146,750(+14.0%)
Key Takeaway
Homes in 07059 have sold for 14% more than they did a year ago.
Summary: The median home sold price in 07059 was $1,195,000 in October 2024, up 14% from last year, and the median price per square foot was $381.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $460K | $646K | +40.4% |
| 3 Bedrooms | $729K | $960K | +31.7% |
| 4 Bedrooms | $887.5K | $997K | +12.3% |
| 5+ Bedrooms | $1.3M | $1.6M | +18.4% |
Summary: 07059 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 40.4%, 3 bedroom homes increased by 31.7%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 18.4%.
Median Sold Price Compared To Nearby Zip Codes
| 07059 | $1.0M | $1.1M | +14.0% |
| 08836 | $715K | $800K | +11.9% |
| 07920 | $734K | $807.5K | +10.0% |
Housing Supply in 07059, NJ
How many homes are available in 07059, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 68 | +21.4% |
Summary: The 07059 real estate market had 68 homes for sale in October 2024, a 21.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 21 | 29 | +38.1% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The 07059 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 38.1%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 9 | -35.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07059, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in 07059 in October 2024, down by 35.7% month-over-month. Of the 9 sold homes, 33% were sold under asking, 44% were sold at asking, and 22% were sold over asking.
Days on Market for 07059, NJ
We’re sorry, we don't have information for this market at the moment
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