$8,311 Closing Credit*
$699,900
4 Beds
•2 Full Baths
Avner Zvulun, Listing Office: RE/MAX SELECT - Franklin Lakes
Is 07470, 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, 07470 has remained a Seller's Market.
Key Takeaway
07470 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07470, NJ
How much do homes in 07470, NJ cost?
Median Sold Price
$680,000
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$63,297(+10.3%)
Key Takeaway
Homes in 07470 have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in 07470 was $680,000 in November 2024, up 10.3% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $309.5K | +19.0% |
| 2 Bedrooms | $450K | $499.5K | +11.0% |
| 3 Bedrooms | $600K | $625K | +4.2% |
| 4 Bedrooms | $717K | $773.5K | +7.9% |
| 5+ Bedrooms | $845K | $999.9K | +18.3% |
Summary: 07470 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 18.3%.
Housing Supply in 07470, NJ
How many homes are available in 07470, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 179 | 170 | -5.0% |
Summary: The 07470 real estate market had 170 homes for sale in November 2024, a 5.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 9 | -30.8% |
| 2 Bedrooms | 19 | 20 | +5.3% |
| 3 Bedrooms | 63 | 62 | -1.6% |
| 4 Bedrooms | 64 | 60 | -6.3% |
| 5+ Bedrooms | 20 | 19 | -5.0% |
Summary: The 07470 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 30.8%, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 53 | 39 | -26.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07470, you could pay more than the asking price. 74.4% of homes here sold above asking price last month.
Summary: A total of 39 homes were sold or pending in 07470 in November 2024, down by 26.4% month-over-month. Of the 39 sold homes, 15% were sold under asking, 10% were sold at asking, and 74% were sold over asking.
Days on Market for 07470, NJ
We’re sorry, we don't have information for this market at the moment
