Is 07110, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07110 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 07110 was a Seller's Market.

Key Takeaway

07110 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 07110, NJ

How much do homes in 07110, NJ cost?

Median Sold Price

$611,388

$325/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$76,388(+14.3%)

Key Takeaway

Homes in 07110 have sold for 14.3% more than they did a year ago.

Summary: The median home sold price in 07110 was $611,388 in October 2024, up 14.3% from last year, and the median price per square foot was $325.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $202.5K$235K
+16.0%
2 $492.5K$505K
+2.5%
3 $520K$606.2K
+16.6%
4 $662.5K$735K
+10.9%
5+ $797.5K$830K
+4.1%

Summary: 07110 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 16.6%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 4.1%.

Median Sold Price Compared To Nearby Zip Codes

07012
+17.0%
07003
+16.6%
07110
+14.3%
07109
+12.2%

Housing Supply in 07110, NJ

How many homes are available in 07110, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8188+8.6%

Summary: The 07110 real estate market had 88 homes for sale in October 2024, a 8.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 87
-12.5%
2 1018
+80.0%
3 4034
-15.0%
4 1819
+5.6%
5+ 510
+100.0%

Summary: The 07110 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 80%, 3 bedroom homes decreased by 15%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1910-47.4%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07110, you could pay more than the asking price. 90% of homes here sold above asking price last month.

Summary: A total of 10 homes were sold or pending in 07110 in October 2024, down by 47.4% month-over-month. Of the 10 sold homes, 10% were sold under asking, 0% were sold at asking, and 90% were sold over asking.

Days on Market for 07110, 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 07110, NJ

Nearby Markets to 07110, NJ