$7,421 Closing Credit*
$624,900
3 Beds
•1 Full Bath, 1 Partial
Listing Office: MICHELLE DAVID REALTY GROUP
Is 07204, 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, 07204 was a Neutral Market.
Key Takeaway
07204 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07204, NJ
How much do homes in 07204, NJ cost?
Median Sold Price
$500,000
$332/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,000(+4.2%)
Key Takeaway
Homes in 07204 have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in 07204 was $500,000 in November 2024, up 4.2% from last year, and the median price per square foot was $332.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $283K | $255K | -9.9% |
| 2 Bedrooms | $367.4K | $445.7K | +21.3% |
| 3 Bedrooms | $475K | $500K | +5.3% |
| 4 Bedrooms | $515K | $530K | +2.9% |
| 5+ Bedrooms | $607.5K | $670K | +10.3% |
Summary: 07204 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.9%, 2 bedroom homes increased by 21.3%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 10.3%.
Housing Supply in 07204, NJ
How many homes are available in 07204, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 38 | -9.5% |
Summary: The 07204 real estate market had 38 homes for sale in November 2024, a 9.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 18 | 15 | -16.7% |
| 4 Bedrooms | 14 | 10 | -28.6% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 07204 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07204, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 07204 in November 2024, down by 33.3% month-over-month. Of the 8 sold homes, 13% were sold under asking, 0% were sold at asking, and 88% were sold over asking.
Days on Market for 07204, NJ
How long does it take to sell a home in 07204, 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 07204 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in 07204; 13% 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.
