Is 07828, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07828 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07828 has remained a Seller's Market.

Key Takeaway

07828 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07828, NJ

How much do homes in 07828, NJ cost?

Median Sold Price

$480,000

$226/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$10,000(-2.0%)

Key Takeaway

Homes in 07828 have sold for 2% less than they did a year ago.

Summary: The median home sold price in 07828 was $480,000 in October 2024, down 2% from last year, and the median price per square foot was $226.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $249K-
N/A
2 $335K$320K
-4.5%
3 $385K$471.5K
+22.5%
4 $600K$610K
+1.7%
5+ $550K$837.5K
+52.3%

Summary: 07828 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 decreased by 4.5%, 3 bedroom homes increased by 22.5%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 52.3%.

Median Sold Price Compared To Nearby Zip Codes

07840
+15.4%
07874
+10.9%
07836
+9.3%
07828
-2.0%

Housing Supply in 07828, NJ

How many homes are available in 07828, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
33330.0%

Summary: The 07828 real estate market had 33 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 44
0.0%
3 1213
+8.3%
4 1513
-13.3%
5+ 23
+50.0%

Summary: The 07828 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 remained the same, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1012+20.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07828, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in 07828 in October 2024, up by 20.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 8% were sold at asking, and 75% were sold over asking.

Days on Market for 07828, NJ

We’re sorry, we don't have information for this market at the moment

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

Report Updated 5 Days Ago

Newest Listings in 07828, NJ

Nearby Markets to 07828, NJ