$5,047 Closing Credit*
$425,000
3 Beds
•1 Full Bath, 1 Partial
Listing Office: KELLER WILLIAMS PROSPERITY REALTY
Is 07843, 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, 07843 has remained a Seller's Market.
Key Takeaway
07843 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07843, NJ
How much do homes in 07843, NJ cost?
Median Sold Price
$400,000
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,350(+8.8%)
Key Takeaway
Homes in 07843 have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in 07843 was $400,000 in October 2024, up 8.8% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $197.5K | $200K | +1.3% |
| 2 Bedrooms | $275K | $318.7K | +15.9% |
| 3 Bedrooms | $380K | $408.7K | +7.6% |
| 4 Bedrooms | $430K | $467K | +8.6% |
| 5+ Bedrooms | $605K | $567K | -6.3% |
Summary: 07843 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes decreased by 6.3%.
Housing Supply in 07843, NJ
How many homes are available in 07843, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 75 | 75 | 0.0% |
Summary: The 07843 real estate market had 75 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 18 | 20 | +11.1% |
| 3 Bedrooms | 38 | 33 | -13.2% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 07843 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 13.2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07843, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in 07843 in October 2024, up by 5.0% month-over-month. Of the 21 sold homes, 14% were sold under asking, 19% were sold at asking, and 67% were sold over asking.
Days on Market for 07843, NJ
How long does it take to sell a home in 07843, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 51 Days | +218.8% |
Summary: Homes in 07843 had an average of 51 days on market in Oct 2024, up by 218.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 07843 has remained consistent over time.
Summary: During October 2024, 21 homes were sold in 07843; 0% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
