$10,000 Closing Credit*
$849,000
2,524 SqFt
4 Beds
•3 Full Baths
Susan Berbrick, Listing Office: Heritage House Sotheby's International Realty
Is 07702, 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, 07702 has remained a Seller's Market.
Key Takeaway
07702 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07702, NJ
How much do homes in 07702, NJ cost?
Median Sold Price
$800,000
$393/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$50,000(+6.7%)
Key Takeaway
Homes in 07702 have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in 07702 was $800,000 in November 2024, up 6.7% from last year, and the median price per square foot was $393.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $740K | $744.9K | +0.7% |
| 3 Bedrooms | $670K | $765K | +14.2% |
| 4 Bedrooms | $888K | $830K | -6.5% |
| 5+ Bedrooms | $1.7M | $1.2M | -30.6% |
Summary: 07702 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 increased by 0.7%, 3 bedroom homes increased by 14.2%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes decreased by 30.6%.
Median Sold Price Compared To Nearby Zip Codes
| 07739 | $861K | $999.9K | +16.1% |
| 07701 | $503.7K | $551.5K | +9.5% |
| 07702 | $750K | $800K | +6.7% |
Housing Supply in 07702, NJ
How many homes are available in 07702, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 14 | -22.2% |
Summary: The 07702 real estate market had 14 homes for sale in November 2024, a 22.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 07702 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 decreased by 33.3%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07702, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 07702 in November 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 07702, NJ
How long does it take to sell a home in 07702, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 8 Days | 32 Days | +308.3% |
Summary: Homes in 07702 had an average of 32 days on market in Nov 2024, up by 308.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 07702 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in 07702; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.