$8,894 Closing Credit*
$749,000
5 Beds
•4 Full Baths, 1 Partial
Maryam Altadouka, Listing Office: Realty One Group Legend
Is 07508, 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, 07508 has remained a Buyer's Market.
Key Takeaway
07508 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07508, NJ
How much do homes in 07508, NJ cost?
Median Sold Price
$580,000
$306/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$89,000(+18.1%)
Key Takeaway
Homes in 07508 have sold for 18.1% more than they did a year ago.
Summary: The median home sold price in 07508 was $580,000 in November 2024, up 18.1% from last year, and the median price per square foot was $306.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $387.5K | $375K | -3.2% |
| 3 Bedrooms | $488.5K | $579.9K | +18.7% |
| 4 Bedrooms | $527.5K | $662.5K | +25.6% |
| 5+ Bedrooms | $740K | $690K | -6.8% |
Summary: 07508 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 25.6%, and 5+ bedroom homes decreased by 6.8%.
Median Sold Price Compared To Nearby Zip Codes
| 07508 | $491K | $580K | +18.1% |
| 07506 | $495K | $550K | +11.1% |
Housing Supply in 07508, NJ
How many homes are available in 07508, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 50 | 60 | +20.0% |
Summary: The 07508 real estate market had 60 homes for sale in November 2024, a 20.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 13 | 17 | +30.8% |
Summary: The 07508 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 30.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07508, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 07508 in November 2024, down by 27.3% month-over-month. Of the 8 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for 07508, NJ
We’re sorry, we don't have information for this market at the moment
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.