$5,047 Closing Credit*
$424,999
4 Beds
•2 Full Baths
Listing Office: EXIT PLATINUM REALTY
Is 07111, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 07111 has remained a Buyer's Market.
Key Takeaway
07111 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07111, NJ
How much do homes in 07111, NJ cost?
Median Sold Price
$406,000
-
Based on all homes sold in October 2024.
Difference Since Last Month
-$24,000(-5.6%)
Key Takeaway
Homes in 07111 have sold for 5.6% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $348.5K | N/A |
| 3 Bedrooms | $430K | $373.5K | -13.1% |
| 4 Bedrooms | $417.5K | $475K | +13.8% |
| 5+ Bedrooms | - | $425K | N/A |
Summary: 07111 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 13.1%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 07112 | $415K | $475K | +14.5% |
| 07111 | $430K | $406K | -5.6% |
Housing Supply in 07111, NJ
How many homes are available in 07111, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 147 | 173 | +17.7% |
Summary: The 07111 real estate market had 173 homes for sale in October 2024, a 17.7% 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 | 12 | 17 | +41.7% |
| 3 Bedrooms | 34 | 41 | +20.6% |
| 4 Bedrooms | 31 | 36 | +16.1% |
| 5+ Bedrooms | 70 | 79 | +12.9% |
Summary: The 07111 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 41.7%, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 12.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07111, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 07111 in October 2024, up by 42.9% month-over-month. Of the 10 sold homes, 10% were sold under asking, 10% were sold at asking, and 80% were sold over asking.
Days on Market for 07111, NJ
We’re sorry, we don't have information for this market at the moment
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