Is 07067, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07067 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07067 has remained a Seller's Market.

Key Takeaway

07067 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07067, NJ

How much do homes in 07067, NJ cost?

Median Sold Price

$586,500

$365/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$55,500(+10.5%)

Key Takeaway

Homes in 07067 have sold for 10.5% more than they did a year ago.

Summary: The median home sold price in 07067 was $586,500 in October 2024, up 10.5% from last year, and the median price per square foot was $365.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $425.5K$480.5K
+12.9%
3 $507.5K$525.5K
+3.6%
4 $550K$617.5K
+12.3%
5+ $625K$779K
+24.6%

Summary: 07067 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 12.9%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 24.6%.

Median Sold Price Compared To Nearby Zip Codes

07001
+13.0%
08830
+12.4%
07067
+10.5%
07065
+9.2%
07066
+2.0%

Housing Supply in 07067, NJ

How many homes are available in 07067, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7693+22.4%

Summary: The 07067 real estate market had 93 homes for sale in October 2024, a 22.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 2637
+42.3%
4 3033
+10.0%
5+ 1618
+12.5%

Summary: The 07067 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 25%, 3 bedroom homes increased by 42.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1122+100.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07067, you could pay more than the asking price. 59.1% of homes here sold above asking price last month.

Summary: A total of 22 homes were sold or pending in 07067 in October 2024, up by 100.0% month-over-month. Of the 22 sold homes, 27% were sold under asking, 14% were sold at asking, and 59% were sold over asking.

Days on Market for 07067, NJ

How long does it take to sell a home in 07067, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
60 Days40 Days-33.6%

Summary: Homes in 07067 had an average of 40 days on market in Oct 2024, down by 33.6% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07067 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 22 homes were sold in 07067; 36% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% 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 5 Days Ago

Newest Listings in 07067, NJ

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