$9,488 Closing Credit*
$799,000
4 Beds
•2 Full Baths, 1 Partial
Michael Martinetti, Listing Office: Keller Williams Realty Westfield
Is 07070, 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, 07070 was a Seller's Market.
Key Takeaway
07070 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07070, NJ
How much do homes in 07070, NJ cost?
Median Sold Price
$775,000
-
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$230,000(+42.2%)
Key Takeaway
Homes in 07070 have sold for 42.2% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $292K | +77.0% |
| 2 Bedrooms | $430K | $355K | -17.4% |
| 3 Bedrooms | $617.5K | $789.2K | +27.8% |
| 4 Bedrooms | $555K | $805K | +45.0% |
| 5+ Bedrooms | $1.3M | $920K | -29.2% |
Summary: 07070 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 77%, 2 bedroom homes decreased by 17.4%, 3 bedroom homes increased by 27.8%, 4 bedroom homes increased by 45%, and 5+ bedroom homes decreased by 29.2%.
Median Sold Price Compared To Nearby Zip Codes
| 07070 | $545K | $775K | +42.2% |
| 07073 | $555K | $530K | -4.5% |
Housing Supply in 07070, NJ
How many homes are available in 07070, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 27 | +35.0% |
Summary: The 07070 real estate market had 27 homes for sale in October 2024, a 35.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The 07070 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 07070, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 07070 in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 07070, NJ
We’re sorry, we don't have information for this market at the moment
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