Is 07060, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07060 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07060 has remained a Seller's Market.

Key Takeaway

07060 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07060, NJ

How much do homes in 07060, NJ cost?

Median Sold Price

$490,000

$263/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$62,650(+14.7%)

Key Takeaway

Homes in 07060 have sold for 14.7% more than they did a year ago.

Summary: The median home sold price in 07060 was $490,000 in October 2024, up 14.7% from last year, and the median price per square foot was $263.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $200K$210K
+5.0%
2 $350K$329K
-6.0%
3 $405K$475K
+17.3%
4 $485K$545.4K
+12.5%
5+ $577.5K$637.2K
+10.3%

Summary: 07060 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes decreased by 6%, 3 bedroom homes increased by 17.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 10.3%.

Median Sold Price Compared To Nearby Zip Codes

07069
+21.1%
07060
+14.7%
07062
+11.1%
07076
+8.2%
07063
+6.0%

Housing Supply in 07060, NJ

How many homes are available in 07060, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9395+2.2%

Summary: The 07060 real estate market had 95 homes for sale in October 2024, a 2.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 67
+16.7%
2 77
0.0%
3 2123
+9.5%
4 3431
-8.8%
5+ 2527
+8.0%

Summary: The 07060 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.5%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes increased by 8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
17170.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07060, you could pay more than the asking price. 76.5% of homes here sold above asking price last month.

Summary: A total of 17 homes were sold or pending in 07060 in October 2024, the same as the previous month. Of the 17 sold homes, 18% were sold under asking, 6% were sold at asking, and 76% were sold over asking.

Days on Market for 07060, NJ

How long does it take to sell a home in 07060, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
63 Days23 Days-63.1%

Summary: Homes in 07060 had an average of 23 days on market in Oct 2024, down by 63.1% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07060 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 17 homes were sold in 07060; 6% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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 07060, NJ

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