$599,900
Land
Megan D. Lavenburg, Listing Office: Century 21 The Crossing
Is 07823, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 07823 was a Seller's Market.
Key Takeaway
07823 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07823, NJ
How much do homes in 07823, NJ cost?
Median Sold Price
$354,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$24,100(+7.3%)
Key Takeaway
Homes in 07823 have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in 07823 was $354,000 in November 2024, up 7.3% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $195K | N/A |
| 2 Bedrooms | $273.5K | $299.9K | +9.7% |
| 3 Bedrooms | $351.5K | $359.7K | +2.3% |
| 4 Bedrooms | $440K | $501K | +13.9% |
| 5+ Bedrooms | $350K | $529.5K | +51.3% |
Summary: 07823 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 13.9%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 58 | 55 | -5.2% |
Summary: The 07823 real estate market had 55 homes for sale in November 2024, a 5.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 23 | 21 | -8.7% |
| 3 Bedrooms | 20 | 16 | -20.0% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 07823 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 8.7%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 5 | -58.3% |
Asking Price vs. Sold Price
1 Home Was 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 could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 07823 in November 2024, down by 58.3% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for 07823, NJ
We’re sorry, we don't have information for this market at the moment
