$2,375 Closing Credit*
$200,000
2 Beds
•1 Full Bath
Listing Office: PRIME NETWORK REALTY
Is 07416, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 07416 has remained a Seller's Market.
Key Takeaway
07416 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07416, NJ
How much do homes in 07416, NJ cost?
Median Sold Price
$350,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$72,611(+26.2%)
Key Takeaway
Homes in 07416 have sold for 26.2% more than they did a year ago.
Summary: The median home sold price in 07416 was $350,000 in October 2024, up 26.2% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $239K | $300K | +25.5% |
| 3 Bedrooms | $275K | $330K | +20.0% |
| 4 Bedrooms | $400K | $417.5K | +4.4% |
| 5+ Bedrooms | $535K | $472.5K | -11.7% |
Summary: 07416 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.5%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes decreased by 11.7%.
Median Sold Price Compared To Nearby Zip Codes
| 07416 | $277.3K | $350K | +26.2% |
| 07419 | $332.5K | $365K | +9.8% |
| 07439 | $355K | $375K | +5.6% |
| 07460 | $360K | $370K | +2.8% |
| 07848 | $445K | $425K | -4.5% |
Housing Supply in 07416, NJ
How many homes are available in 07416, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 23 | +4.5% |
Summary: The 07416 real estate market had 23 homes for sale in October 2024, a 4.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 14 | 14 | 0.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 07416 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07416, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 07416 in October 2024, the same as the previous month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for 07416, NJ
We’re sorry, we don't have information for this market at the moment
