$10,000 Closing Credit*
$1,440,000
3,613 SqFt
4 Beds
•3 Full Baths, 1 Partial
Margaret A Penta, Listing Office: Preferred Properties Real Estate
Is 07724, 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, 07724 has remained a Seller's Market.
Key Takeaway
07724 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07724, NJ
How much do homes in 07724, NJ cost?
Median Sold Price
$530,000
$347/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$5,000(-0.9%)
Key Takeaway
Homes in 07724 have sold for 0.9% less than they did a year ago.
Summary: The median home sold price in 07724 was $530,000 in November 2024, down 0.9% from last year, and the median price per square foot was $347.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149K | $162K | +8.7% |
| 2 Bedrooms | $385K | $415K | +7.8% |
| 3 Bedrooms | $591.7K | $639K | +8.0% |
| 4 Bedrooms | $665.7K | $822.4K | +23.5% |
| 5+ Bedrooms | $1.1M | $765K | -32.1% |
Summary: 07724 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes decreased by 32.1%.
Median Sold Price Compared To Nearby Zip Codes
| 07757 | $750K | $858.1K | +14.4% |
| 07702 | $750K | $800K | +6.7% |
| 07724 | $535K | $530K | -0.9% |
Housing Supply in 07724, NJ
How many homes are available in 07724, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 85 | 63 | -25.9% |
Summary: The 07724 real estate market had 63 homes for sale in November 2024, a 25.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 21 | 15 | -28.6% |
| 3 Bedrooms | 28 | 21 | -25.0% |
| 4 Bedrooms | 22 | 16 | -27.3% |
| 5+ Bedrooms | 10 | 8 | -20.0% |
Summary: The 07724 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 11 | -56.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07724, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 07724 in November 2024, down by 56.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 0% were sold at asking, and 45% were sold over asking.
Days on Market for 07724, NJ
How long does it take to sell a home in 07724, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 31 Days | +89.9% |
Summary: Homes in 07724 had an average of 31 days on market in Nov 2024, up by 89.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 07724 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in 07724; 82% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% 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.