Is 07310, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07310 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 07310 has remained a Seller's Market.

Key Takeaway

07310 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07310, NJ

How much do homes in 07310, NJ cost?

Median Sold Price

$900,000

$957/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$49,000(+5.8%)

Key Takeaway

Homes in 07310 have sold for 5.8% more than they did a month ago.

Summary: The median home sold price in 07310 was $900,000 in November 2024, up 5.8% from last month, and the median price per square foot was $957.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 $780K$765K
-1.9%
2 $1.2M$1.3M
+10.4%
3 --
N/A
4 $3.2M-
N/A
5+ --
N/A

Summary: 07310 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes increased by 10.4%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 07310, NJ

How many homes are available in 07310, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4038-5.0%

Summary: The 07310 real estate market had 38 homes for sale in November 2024, a 5.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1413
-7.1%
2 2524
-4.0%
3 01
+100.0%
4 10
-100.0%
5+ 00
0.0%

Summary: The 07310 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.1%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
107-30.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07310, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 07310 in November 2024, down by 30.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for 07310, NJ

How long does it take to sell a home in 07310, NJ?

Average Sale Time

Oct 2024Nov 2024CHANGE
65 Days53 Days-18.8%

Summary: Homes in 07310 had an average of 53 days on market in Nov 2024, down by 18.8% compared to last month.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07310 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 7 homes were sold in 07310; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

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