Is 07728, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07728 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 07728 has remained a Seller's Market.

Key Takeaway

07728 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07728, NJ

How much do homes in 07728, NJ cost?

Median Sold Price

$501,111

$312/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$40,277(+8.7%)

Key Takeaway

Homes in 07728 have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in 07728 was $501,111 in November 2024, up 8.7% from last year, and the median price per square foot was $312.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $212K$239.5K
+13.0%
2 $350K$396.5K
+13.3%
3 $475K$484.3K
+2.0%
4 $705K$800K
+13.5%
5+ $930K$999.4K
+7.5%

Summary: 07728 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 7.5%.

Median Sold Price Compared To Nearby Zip Codes

07731
+8.8%
07728
+8.7%
07726
+5.8%
07727
-8.1%

Housing Supply in 07728, NJ

How many homes are available in 07728, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
214157-26.6%

Summary: The 07728 real estate market had 157 homes for sale in November 2024, a 26.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 53
-40.0%
2 7555
-26.7%
3 5338
-28.3%
4 5237
-28.8%
5+ 2924
-17.2%

Summary: The 07728 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes decreased by 26.7%, 3 bedroom homes decreased by 28.3%, 4 bedroom homes decreased by 28.8%, and 5+ bedroom homes decreased by 17.2%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
6236-41.9%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07728, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.

Summary: A total of 36 homes were sold or pending in 07728 in November 2024, down by 41.9% month-over-month. Of the 36 sold homes, 19% were sold under asking, 44% were sold at asking, and 36% were sold over asking.

Days on Market for 07728, NJ

How long does it take to sell a home in 07728, NJ?

Average Sale Time

Nov 2023Nov 2024CHANGE
25 Days26 Days+5.1%

Summary: Homes in 07728 had an average of 26 days on market in Nov 2024, up by 5.1% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07728 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 36 homes were sold in 07728; 75% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in 07728, NJ

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