Is 07860, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07860 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07860 has remained a Seller's Market.

Key Takeaway

07860 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07860, NJ

How much do homes in 07860, NJ cost?

Median Sold Price

$397,300

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$45,300(+12.9%)

Key Takeaway

Homes in 07860 have sold for 12.9% more than they did a year ago.

Summary: The median home sold price in 07860 was $397,300 in October 2024, up 12.9% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $210K$250K
+19.0%
2 $275K$325K
+18.2%
3 $350K$388K
+10.9%
4 $450K$500K
+11.1%
5+ $632.8K$615K
-2.8%

Summary: 07860 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 2.8%.

Median Sold Price Compared To Nearby Zip Codes

07860
+12.9%
07821
+11.1%
07871
+4.8%
07848
-4.5%

Housing Supply in 07860, NJ

How many homes are available in 07860, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
119131+10.1%

Summary: The 07860 real estate market had 131 homes for sale in October 2024, a 10.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 44
0.0%
2 2221
-4.5%
3 4753
+12.8%
4 3743
+16.2%
5+ 910
+11.1%

Summary: The 07860 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 decreased by 4.5%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2030+50.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07860, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 30 homes were sold or pending in 07860 in October 2024, up by 50.0% month-over-month. Of the 30 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.

Days on Market for 07860, NJ

How long does it take to sell a home in 07860, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
79 Days27 Days-65.2%

Summary: Homes in 07860 had an average of 27 days on market in Oct 2024, down by 65.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07860 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 30 homes were sold in 07860; 3% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 4 Days Ago

Newest Listings in 07860, NJ

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