$5,403 Closing Credit*
$455,000
3 Beds
•1 Full Bath
Listing Office: EXIT PLATINUM REALTY
Is 07203, 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, 07203 was a Seller's Market.
Key Takeaway
07203 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 07203, NJ
How much do homes in 07203, NJ cost?
Median Sold Price
$492,500
$335/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$57,500(+13.2%)
Key Takeaway
Homes in 07203 have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in 07203 was $492,500 in November 2024, up 13.2% from last year, and the median price per square foot was $335.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162.5K | $180K | +10.8% |
| 2 Bedrooms | $340K | $385K | +13.2% |
| 3 Bedrooms | $440.7K | $492.5K | +11.7% |
| 4 Bedrooms | $465K | $512K | +10.1% |
| 5+ Bedrooms | $510K | $640K | +25.5% |
Summary: 07203 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 25.5%.
Housing Supply in 07203, NJ
How many homes are available in 07203, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 81 | 77 | -4.9% |
Summary: The 07203 real estate market had 77 homes for sale in November 2024, a 4.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 32 | 30 | -6.3% |
| 4 Bedrooms | 29 | 26 | -10.3% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The 07203 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 11 | -35.3% |
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 07203, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 07203 in November 2024, down by 35.3% 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 07203, NJ
We’re sorry, we don't have information for this market at the moment
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