$1,663 Closing Credit*
$140,000
443 SqFt
1 Bed
•1 Full Bath
Listing Office: EXP REALTY LLC
Is 07087, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 07087 was a Seller's Market.
Key Takeaway
07087 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 07087, NJ
How much do homes in 07087, NJ cost?
Median Sold Price
$460,000
$437/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$25,000(+5.7%)
Key Takeaway
Homes in 07087 have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in 07087 was $460,000 in November 2024, up 5.7% from last year, and the median price per square foot was $437.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $308.7K | -0.4% |
| 2 Bedrooms | $399.5K | $465K | +16.4% |
| 3 Bedrooms | $670K | $690K | +3.0% |
| 4 Bedrooms | $625K | $592.5K | -5.2% |
| 5+ Bedrooms | $720.9K | $758.5K | +5.2% |
Summary: 07087 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes increased by 16.4%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 5.2%, and 5+ bedroom homes increased by 5.2%.
Housing Supply in 07087, NJ
How many homes are available in 07087, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 135 | 113 | -16.3% |
Summary: The 07087 real estate market had 113 homes for sale in November 2024, a 16.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 32 | 20 | -37.5% |
| 2 Bedrooms | 39 | 31 | -20.5% |
| 3 Bedrooms | 14 | 11 | -21.4% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 38 | 41 | +7.9% |
Summary: The 07087 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 37.5%, 2 bedroom homes decreased by 20.5%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 7.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 18 | -35.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07087, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in 07087 in November 2024, down by 35.7% month-over-month. Of the 11 sold homes, 18% were sold under asking, 18% were sold at asking, and 64% were sold over asking.
Days on Market for 07087, NJ
How long does it take to sell a home in 07087, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 53 Days | +200.7% |
Summary: Homes in 07087 had an average of 53 days on market in Nov 2024, up by 200.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 07087 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 18 homes were sold in 07087; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 6% 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.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX 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. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.