$6,531 Closing Credit*
$549,999
6 Beds
•2 Full Baths
Listing Office: IDENTITY PROPERTIES
Is 07106, 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, 07106 was a Neutral Market.
Key Takeaway
07106 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07106, NJ
How much do homes in 07106, NJ cost?
Median Sold Price
$415,000
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$33,500(+8.8%)
Key Takeaway
Homes in 07106 have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in 07106 was $415,000 in October 2024, up 8.8% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282.5K | - | N/A |
| 2 Bedrooms | $325K | $322.5K | -0.8% |
| 3 Bedrooms | $360K | $380K | +5.6% |
| 4 Bedrooms | $415K | $450K | +8.4% |
| 5+ Bedrooms | $432.5K | $450K | +4.0% |
Summary: 07106 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 4%.
Housing Supply in 07106, NJ
How many homes are available in 07106, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 86 | 102 | +18.6% |
Summary: The 07106 real estate market had 102 homes for sale in October 2024, a 18.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 28 | 29 | +3.6% |
| 4 Bedrooms | 14 | 14 | 0.0% |
| 5+ Bedrooms | 41 | 56 | +36.6% |
Summary: The 07106 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 remained the same, 3 bedroom homes increased by 3.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 36.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07106, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 07106 in October 2024, up by 37.5% month-over-month. Of the 11 sold homes, 36% were sold under asking, 9% were sold at asking, and 55% were sold over asking.
Days on Market for 07106, NJ
How long does it take to sell a home in 07106, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 07106 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 11 homes were sold in 07106; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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