Is 07481, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07481 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07481 has remained a Seller's Market.

Key Takeaway

07481 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07481, NJ

How much do homes in 07481, NJ cost?

Median Sold Price

$905,000

-

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$5,000(-0.5%)

Key Takeaway

Homes in 07481 have sold for 0.5% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$500K
N/A
2 $801K$685K
-14.5%
3 $700K$818.5K
+16.9%
4 $887.5K$1.1M
+29.6%
5+ $1.3M$1.4M
+5.1%

Summary: 07481 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 decreased by 14.5%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 29.6%, and 5+ bedroom homes increased by 5.1%.

Median Sold Price Compared To Nearby Zip Codes

07463
+18.8%
07417
+12.7%
07506
+11.2%
07481
-0.5%

Housing Supply in 07481, NJ

How many homes are available in 07481, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2132+52.4%

Summary: The 07481 real estate market had 32 homes for sale in October 2024, a 52.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 12
+100.0%
3 37
+133.3%
4 913
+44.4%
5+ 710
+42.9%

Summary: The 07481 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 133.3%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 42.9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
56+20.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07481, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 07481 in October 2024, up by 20.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 07481, NJ

We’re sorry, we don't have information for this market at the moment

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

Report Updated 24 Days Ago

Newest Listings in 07481, NJ

Nearby Markets to 07481, NJ