$5,568 Closing Credit*
$468,888
3 Beds
•2 Full Baths, 1 Partial
Listing Office: REALTY EMPIRE, LLC
Is 07502, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 07502 was a Seller's Market.
Key Takeaway
07502 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 07502, NJ
How much do homes in 07502, NJ cost?
Median Sold Price
$446,000
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$38,500(+9.4%)
Key Takeaway
Homes in 07502 have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in 07502 was $446,000 in October 2024, up 9.4% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $165K | +3.1% |
| 2 Bedrooms | $425K | $374.9K | -11.8% |
| 3 Bedrooms | $381K | $455K | +19.4% |
| 4 Bedrooms | $460K | $480K | +4.3% |
| 5+ Bedrooms | $528.6K | $542.5K | +2.6% |
Summary: 07502 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 2.6%.
Housing Supply in 07502, NJ
How many homes are available in 07502, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Summary: The 07502 real estate market had 25 homes for sale in October 2024, a 8.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The 07502 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 200%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07502, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 07502 in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 07502, NJ
We’re sorry, we don't have information for this market at the moment
