$7,422 Closing Credit*
$625,000
3 Beds
•1 Full Bath
David Wilson, Listing Office: Weichert Realtors
Is 07607, 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, 07607 was a Seller's Market.
Key Takeaway
07607 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07607, NJ
How much do homes in 07607, NJ cost?
Median Sold Price
$562,000
-
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,500(+3.6%)
Key Takeaway
Homes in 07607 have sold for 3.6% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $375K | $285K | -24.0% |
| 3 Bedrooms | $531.9K | $562K | +5.7% |
| 4 Bedrooms | $685K | $580K | -15.3% |
| 5+ Bedrooms | $540K | $587.5K | +8.8% |
Summary: 07607 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 24%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 15.3%, and 5+ bedroom homes increased by 8.8%.
Housing Supply in 07607, NJ
How many homes are available in 07607, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 9 | +200.0% |
Summary: The 07607 real estate market had 9 homes for sale in October 2024, a 200.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 1 | 4 | +300.0% |
| 4 Bedrooms | 0 | 3 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 07607 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 remained the same, 3 bedroom homes increased by 300%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 07607, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in 07607 in October 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 07607, NJ
We’re sorry, we don't have information for this market at the moment
