Is 07065, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07065 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 07065 was a Seller's Market.

Key Takeaway

07065 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 07065, NJ

How much do homes in 07065, NJ cost?

Median Sold Price

$475,000

$328/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$40,000(+9.2%)

Key Takeaway

Homes in 07065 have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in 07065 was $475,000 in October 2024, up 9.2% from last year, and the median price per square foot was $328.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $296K$300K
+1.4%
2 $357.5K$425K
+18.9%
3 $440K$475K
+8.0%
4 $484.5K$554K
+14.3%
5+ $500K$670K
+34.0%

Summary: 07065 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes increased by 18.9%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 34%.

Median Sold Price Compared To Nearby Zip Codes

07001
+13.0%
07036
+12.9%
07067
+10.5%
07065
+9.2%
07066
+2.0%

Housing Supply in 07065, NJ

How many homes are available in 07065, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
100102+2.0%

Summary: The 07065 real estate market had 102 homes for sale in October 2024, a 2.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 43
-25.0%
2 1210
-16.7%
3 4544
-2.2%
4 2529
+16.0%
5+ 1416
+14.3%

Summary: The 07065 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2516-36.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07065, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.

Summary: A total of 16 homes were sold or pending in 07065 in October 2024, down by 36.0% month-over-month. Of the 16 sold homes, 19% were sold under asking, 13% were sold at asking, and 69% were sold over asking.

Days on Market for 07065, NJ

How long does it take to sell a home in 07065, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
30 Days10 Days-66.7%

Summary: Homes in 07065 had an average of 10 days on market in Oct 2024, down by 66.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07065 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 16 homes were sold in 07065; 6% of homes were sold within 30 days, 0% 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 21 Days Ago

Newest Listings in 07065, NJ

Nearby Markets to 07065, NJ