Is 07076, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07076 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07076 has remained a Seller's Market.

Key Takeaway

07076 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07076, NJ

How much do homes in 07076, NJ cost?

Median Sold Price

$765,000

$398/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$58,000(+8.2%)

Key Takeaway

Homes in 07076 have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in 07076 was $765,000 in October 2024, up 8.2% from last year, and the median price per square foot was $398.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $282K$370K
+31.2%
2 $442K$497.5K
+12.6%
3 $582.5K$650K
+11.6%
4 $737.5K$835K
+13.2%
5+ $1.2M$1.2M
-0.5%

Summary: 07076 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.2%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes decreased by 0.5%.

Median Sold Price Compared To Nearby Zip Codes

07090
+18.0%
07060
+14.7%
07023
+11.2%
07076
+8.2%
07092
+5.2%

Housing Supply in 07076, NJ

How many homes are available in 07076, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6076+26.7%

Summary: The 07076 real estate market had 76 homes for sale in October 2024, a 26.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 56
+20.0%
3 1123
+109.1%
4 2024
+20.0%
5+ 2322
-4.3%

Summary: The 07076 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 20%, 3 bedroom homes increased by 109.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 4.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1914-26.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07076, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in 07076 in October 2024, down by 26.3% month-over-month. Of the 14 sold homes, 36% were sold under asking, 14% were sold at asking, and 50% were sold over asking.

Days on Market for 07076, NJ

We’re sorry, we don't have information for this market at the moment

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 07076, NJ

Nearby Markets to 07076, NJ