$6,530 Closing Credit*
$549,900
2 Beds
•2 Full Baths
Listing Office: PREMIER PROPERTIES DAMIANO GROUP
Is 07424, 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, 07424 has remained a Seller's Market.
Key Takeaway
07424 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07424, NJ
How much do homes in 07424, NJ cost?
Median Sold Price
$515,000
$252/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since October 2023.
Key Takeaway
The sold price of homes in 07424 has remained the same since last year.
Summary: The median home sold price in 07424 was $515,000 in October 2024, the same as last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $286K | $352.5K | +23.3% |
| 2 Bedrooms | $459.6K | $509K | +10.7% |
| 3 Bedrooms | $529K | $501K | -5.3% |
| 4 Bedrooms | $599K | $705K | +17.7% |
| 5+ Bedrooms | $650K | $616K | -5.2% |
Summary: 07424 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.3%, 2 bedroom homes increased by 10.7%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes decreased by 5.2%.
Housing Supply in 07424, NJ
How many homes are available in 07424, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 79 | 88 | +11.4% |
Summary: The 07424 real estate market had 88 homes for sale in October 2024, a 11.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 20 | 24 | +20.0% |
| 3 Bedrooms | 24 | 21 | -12.5% |
| 4 Bedrooms | 25 | 31 | +24.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The 07424 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 increased by 20%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 24%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07424, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in 07424 in October 2024, up by 20.0% month-over-month. Of the 18 sold homes, 17% were sold under asking, 6% were sold at asking, and 78% were sold over asking.
Days on Market for 07424, NJ
We’re sorry, we don't have information for this market at the moment
