$8,550 Closing Credit*
$720,000
2 Beds
•2 Full Baths, 1 Partial
Warren C. Johnson, Listing Office: RE/MAX SELECT - Franklin Lakes
Is 07075, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 07075 has remained a Seller's Market.
Key Takeaway
07075 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07075, NJ
How much do homes in 07075, NJ cost?
Median Sold Price
$665,000
$349/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$45,000(+7.3%)
Key Takeaway
Homes in 07075 have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in 07075 was $665,000 in November 2024, up 7.3% from last year, and the median price per square foot was $349.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $354K | $398.5K | +12.6% |
| 2 Bedrooms | $382.5K | $560K | +46.4% |
| 3 Bedrooms | $600K | $655K | +9.2% |
| 4 Bedrooms | $755K | $805K | +6.6% |
| 5+ Bedrooms | - | - | N/A |
Summary: 07075 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes increased by 46.4%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 07075 | $620K | $665K | +7.3% |
| 07057 | $729K | $557.5K | -23.5% |
Housing Supply in 07075, NJ
How many homes are available in 07075, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 22 | +46.7% |
Summary: The 07075 real estate market had 22 homes for sale in November 2024, a 46.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 5 | +150.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 07075 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 7 | +250.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07075, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 07075 in November 2024, up by 250.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.
Days on Market for 07075, NJ
How long does it take to sell a home in 07075, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 11 Days | 30 Days | +177.3% |
Summary: Homes in 07075 had an average of 30 days on market in Nov 2024, up by 177.3% 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
Key Takeaway
Many homes in 07075 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in 07075; 14% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale or rent on this web site comes in part from the IDX program of the HCMLS. Real estate listings held by brokerage firms other than this broker are marked with the HCIDX mark and the information about them includes the name of the listing broker. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright © 2024 Realty Multiple Listing System, Inc. Incorporated in 1952 (aka RMLS, Hudson County MLS). All rights reserved.