Is 07847, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07847 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07847 has remained a Seller's Market.

Key Takeaway

07847 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07847, NJ

How much do homes in 07847, NJ cost?

Median Sold Price

$475,000

-

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$20,000(+4.4%)

Key Takeaway

Homes in 07847 have sold for 4.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$135K
N/A
2 $367.5K$420K
+14.3%
3 $480K$485K
+1.0%
4 $440.5K$507.5K
+15.2%
5+ --
N/A

Summary: 07847 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 14.3%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

07852
+17.1%
07876
+5.3%
07847
+4.4%

Housing Supply in 07847, NJ

How many homes are available in 07847, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
68+33.3%

Summary: The 07847 real estate market had 8 homes for sale in October 2024, a 33.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 00
0.0%
3 24
+100.0%
4 33
0.0%
5+ 00
0.0%

Summary: The 07847 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 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
02+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07847, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 07847 in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 07847, 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 21 Days Ago

Newest Listings in 07847, NJ

Nearby Markets to 07847, NJ