$5,929 Closing Credit*
$499,300
1,536 SqFt
3 Beds
•3 Full Baths
Listing Office: RE/MAX SELECT
Is 07205, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$470,000
$358/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$36,000(+8.3%)
Key Takeaway
Homes in 07205 have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in 07205 was $470,000 in November 2024, up 8.3% from last year, and the median price per square foot was $358.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $360K | +14.3% |
| 3 Bedrooms | $422.4K | $467.5K | +10.7% |
| 4 Bedrooms | $457.4K | $535K | +17.0% |
| 5+ Bedrooms | $545K | $585K | +7.3% |
Summary: 07205 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 7.3%.
Median Sold Price Compared To Nearby Zip Codes
| 07205 | $434K | $470K | +8.3% |
| 07083 | $509.9K | $550K | +7.8% |
Housing Supply in 07205, NJ
How many homes are available in 07205, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 66 | 69 | +4.5% |
Summary: The 07205 real estate market had 69 homes for sale in November 2024, a 4.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 36 | 36 | 0.0% |
| 4 Bedrooms | 15 | 14 | -6.7% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The 07205 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 17 | +54.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07205, you could pay more than the asking price. 76.5% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in 07205 in November 2024, up by 54.5% month-over-month. Of the 17 sold homes, 6% were sold under asking, 18% were sold at asking, and 76% were sold over asking.
Days on Market for 07205, NJ
How long does it take to sell a home in 07205, 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 07205 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 17 homes were sold in 07205; 6% 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.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.