$2,957 Closing Credit*
$249,000
3 Beds
•2 Full Baths
Listing Office: KELLER WILLIAMS REAL ESTATE
Is 07823, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 07823 has remained a Seller's Market.
Key Takeaway
07823 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07823, NJ
How much do homes in 07823, NJ cost?
Median Sold Price
$352,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,100(+6.7%)
Key Takeaway
Homes in 07823 have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in 07823 was $352,000 in October 2024, up 6.7% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $195K | N/A |
| 2 Bedrooms | $250K | $307.5K | +23.0% |
| 3 Bedrooms | $350K | $359.5K | +2.7% |
| 4 Bedrooms | $447.5K | $500K | +11.7% |
| 5+ Bedrooms | $350K | $529.5K | +51.3% |
Summary: 07823 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 51.3%.
Housing Supply in 07823, NJ
How many homes are available in 07823, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 51 | 57 | +11.8% |
Summary: The 07823 real estate market had 57 homes for sale in October 2024, a 11.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 22 | 25 | +13.6% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 07823 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 5.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 11 | +83.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07823, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 07823 in October 2024, up by 83.3% month-over-month. Of the 11 sold homes, 64% were sold under asking, 9% were sold at asking, and 27% were sold over asking.
Days on Market for 07823, NJ
How long does it take to sell a home in 07823, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 07823 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 11 homes were sold in 07823; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
