$10,000 Closing Credit*
$1,100,000
4 Beds
•2 Full Baths, 1 Partial
Listing Office: KELLER WILLIAMS REALTY
Is 07078, 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, 07078 has remained a Seller's Market.
Key Takeaway
07078 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07078, NJ
How much do homes in 07078, NJ cost?
Median Sold Price
$2,173,995
$658/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$251,495(+13.1%)
Key Takeaway
Homes in 07078 have sold for 13.1% more than they did a year ago.
Summary: The median home sold price in 07078 was $2,173,995 in November 2024, up 13.1% from last year, and the median price per square foot was $658.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $750K | - | N/A |
| 3 Bedrooms | $1.4M | $1.4M | +1.1% |
| 4 Bedrooms | $1.6M | $1.8M | +10.8% |
| 5+ Bedrooms | $2.2M | $2.6M | +16.8% |
Summary: 07078 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 16.8%.
Housing Supply in 07078, NJ
How many homes are available in 07078, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 44 | 43 | -2.3% |
Summary: The 07078 real estate market had 43 homes for sale in November 2024, a 2.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 31 | 29 | -6.5% |
Summary: The 07078 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 6.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 9 | +80.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07078, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 07078 in November 2024, up by 80.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 11% were sold at asking, and 44% were sold over asking.
Days on Market for 07078, NJ
We’re sorry, we don't have information for this market at the moment
