$6,401 Closing Credit*
$539,000
3 Beds
•2 Full Baths
Listing Office: DENVAL REALTY
Is 07205, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 07205 has remained a Seller's Market.
Key Takeaway
07205 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07205, NJ
How much do homes in 07205, NJ cost?
Median Sold Price
$474,500
$358/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$39,500(+9.1%)
Key Takeaway
Homes in 07205 have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in 07205 was $474,500 in December 2024, up 9.1% from last year, and the median price per square foot was $358.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $400K | +27.0% |
| 3 Bedrooms | $427K | $470K | +10.1% |
| 4 Bedrooms | $459.9K | $540K | +17.4% |
| 5+ Bedrooms | $555K | $592.5K | +6.8% |
Summary: 07205 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 6.8%.
Housing Supply in 07205, NJ
How many homes are available in 07205, NJ?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 61 | 50 | -18.0% |
Summary: The 07205 real estate market had 50 homes for sale in December 2024, a 18.0% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 8 | -20.0% |
| 3 Bedrooms | 33 | 27 | -18.2% |
| 4 Bedrooms | 12 | 8 | -33.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 07205 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07205, you could pay more than the asking price. 84.6% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 07205 in December 2024, down by 27.8% month-over-month. Of the 13 sold homes, 15% were sold under asking, 0% were sold at asking, and 85% were sold over asking.
Days on Market for 07205, NJ
We’re sorry, we don't have information for this market at the moment
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