Is 07735, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07735 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07735 has remained a Seller's Market.

Key Takeaway

07735 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07735, NJ

How much do homes in 07735, NJ cost?

Median Sold Price

$495,000

$314/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$85,000(+20.7%)

Key Takeaway

Homes in 07735 have sold for 20.7% more than they did a year ago.

Summary: The median home sold price in 07735 was $495,000 in October 2024, up 20.7% from last year, and the median price per square foot was $314.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $165K$292K
+77.0%
2 $348.1K$380K
+9.2%
3 $405K$505K
+24.7%
4 $505K$555K
+9.9%
5+ $517.1K$645K
+24.7%

Summary: 07735 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 77%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 24.7%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 24.7%.

Median Sold Price Compared To Nearby Zip Codes

07735
+20.7%
07734
+15.4%
07730
+9.1%
07747
+6.5%
07721
-6.7%

Housing Supply in 07735, NJ

How many homes are available in 07735, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
10481-22.1%

Summary: The 07735 real estate market had 81 homes for sale in October 2024, a 22.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 21
-50.0%
2 156
-60.0%
3 6043
-28.3%
4 2226
+18.2%
5+ 55
0.0%

Summary: The 07735 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 60%, 3 bedroom homes decreased by 28.3%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3824-36.8%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07735, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.

Summary: A total of 24 homes were sold or pending in 07735 in October 2024, down by 36.8% month-over-month. Of the 24 sold homes, 33% were sold under asking, 8% were sold at asking, and 58% were sold over asking.

Days on Market for 07735, NJ

How long does it take to sell a home in 07735, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
52 Days34 Days-34.1%

Summary: Homes in 07735 had an average of 34 days on market in Oct 2024, down by 34.1% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 07735 has remained consistent over time.

Summary: During October 2024, 24 homes were sold in 07735; 46% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 4% 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 4 Days Ago

Newest Listings in 07735, NJ

Nearby Markets to 07735, NJ