Is 07747, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07747 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07747 has remained a Seller's Market.

Key Takeaway

07747 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07747, NJ

How much do homes in 07747, NJ cost?

Median Sold Price

$520,000

$329/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$31,750(+6.5%)

Key Takeaway

Homes in 07747 have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in 07747 was $520,000 in October 2024, up 6.5% from last year, and the median price per square foot was $329.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $245K$250K
+2.0%
2 $315K$331.5K
+5.2%
3 $505K$565K
+11.9%
4 $660K$717.5K
+8.7%
5+ $677K$780K
+15.2%

Summary: 07747 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 15.2%.

Median Sold Price Compared To Nearby Zip Codes

07735
+20.7%
08859
+12.3%
08879
+8.9%
07747
+6.5%
07721
-6.7%

Housing Supply in 07747, NJ

How many homes are available in 07747, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
136140+2.9%

Summary: The 07747 real estate market had 140 homes for sale in October 2024, a 2.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 912
+33.3%
2 2934
+17.2%
3 4445
+2.3%
4 3935
-10.3%
5+ 1514
-6.7%

Summary: The 07747 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes decreased by 6.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2336+56.5%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07747, you could pay more than the asking price. 52.8% of homes here sold above asking price last month.

Summary: A total of 36 homes were sold or pending in 07747 in October 2024, up by 56.5% month-over-month. Of the 36 sold homes, 28% were sold under asking, 19% were sold at asking, and 53% were sold over asking.

Days on Market for 07747, NJ

How long does it take to sell a home in 07747, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
33 Days29 Days-12.3%

Summary: Homes in 07747 had an average of 29 days on market in Oct 2024, down by 12.3% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07747 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 36 homes were sold in 07747; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 6% 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 07747, NJ

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