$4,738 Closing Credit*
$399,000
3 Beds
•2 Full Baths
Listing Office: COLDWELL BANKER REALTY
Is 07062, 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, 07062 was a Seller's Market.
Key Takeaway
07062 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 07062, NJ
How much do homes in 07062, NJ cost?
Median Sold Price
$450,000
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$45,000(+11.1%)
Key Takeaway
Homes in 07062 have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in 07062 was $450,000 in October 2024, up 11.1% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $136K | $150K | +10.3% |
| 2 Bedrooms | $357.5K | $355K | -0.7% |
| 3 Bedrooms | $405K | $440K | +8.6% |
| 4 Bedrooms | $445K | $485K | +9.0% |
| 5+ Bedrooms | $440K | $600K | +36.4% |
Summary: 07062 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.3%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 36.4%.
Housing Supply in 07062, NJ
How many homes are available in 07062, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 47 | 48 | +2.1% |
Summary: The 07062 real estate market had 48 homes for sale in October 2024, a 2.1% 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 | 5 | 5 | 0.0% |
| 3 Bedrooms | 15 | 17 | +13.3% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The 07062 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 remained the same, 3 bedroom homes increased by 13.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07062, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 07062 in October 2024, down by 22.2% month-over-month. Of the 7 sold homes, 14% were sold under asking, 0% were sold at asking, and 86% were sold over asking.
Days on Market for 07062, NJ
We’re sorry, we don't have information for this market at the moment
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