$8,182 Closing Credit*
$689,000
8 Beds
•3 Full Baths
Listing Office: KELLER WILLIAMS MID-TOWN DIRECT
Is 07112, 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, 07112 has remained a Buyer's Market.
Key Takeaway
07112 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07112, NJ
How much do homes in 07112, NJ cost?
Median Sold Price
$475,000
$160/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$60,000(+14.5%)
Key Takeaway
Homes in 07112 have sold for 14.5% more than they did a month ago.
Summary: The median home sold price in 07112 was $475,000 in October 2024, up 14.5% from last month, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190K | - | N/A |
| 2 Bedrooms | - | $355K | N/A |
| 3 Bedrooms | $342.5K | $400K | +16.8% |
| 4 Bedrooms | $495K | $475K | -4.0% |
| 5+ Bedrooms | $468.5K | $655K | +39.8% |
Summary: 07112 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 increased by 16.8%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 39.8%.
Median Sold Price Compared To Nearby Zip Codes
| 07112 | $415K | $475K | +14.5% |
| 07111 | $430K | $406K | -5.6% |
Housing Supply in 07112, NJ
How many homes are available in 07112, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 84 | 99 | +17.9% |
Summary: The 07112 real estate market had 99 homes for sale in October 2024, a 17.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 10 | 13 | +30.0% |
| 4 Bedrooms | 15 | 16 | +6.7% |
| 5+ Bedrooms | 54 | 64 | +18.5% |
Summary: The 07112 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 50%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 18.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
0 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 07112, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 07112 in October 2024, up by 16.7% month-over-month. Of the 7 sold homes, 0% were sold under asking, 14% were sold at asking, and 86% were sold over asking.
Days on Market for 07112, NJ
How long does it take to sell a home in 07112, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 07112 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in 07112; 14% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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