Is 07866, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07866 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07866 has remained a Seller's Market.

Key Takeaway

07866 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07866, NJ

How much do homes in 07866, NJ cost?

Median Sold Price

$509,750

$336/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$62,750(+14.0%)

Key Takeaway

Homes in 07866 have sold for 14% more than they did a year ago.

Summary: The median home sold price in 07866 was $509,750 in October 2024, up 14% from last year, and the median price per square foot was $336.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $297.5K$348.1K
+17.0%
2 $397.5K$445K
+11.9%
3 $430.6K$510.5K
+18.5%
4 $550K$647.5K
+17.7%
5+ $662.5K$755K
+14.0%

Summary: 07866 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 18.5%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes increased by 14%.

Median Sold Price Compared To Nearby Zip Codes

07885
+15.3%
07866
+14.0%
07801
+12.5%
07005
+9.6%
07834
+1.6%

Housing Supply in 07866, NJ

How many homes are available in 07866, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
10193-7.9%

Summary: The 07866 real estate market had 93 homes for sale in October 2024, a 7.9% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 910
+11.1%
2 2826
-7.1%
3 4330
-30.2%
4 1523
+53.3%
5+ 64
-33.3%

Summary: The 07866 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 30.2%, 4 bedroom homes increased by 53.3%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3127-12.9%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

6 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07866, you could pay more than the asking price. 74.1% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in 07866 in October 2024, down by 12.9% month-over-month. Of the 27 sold homes, 4% were sold under asking, 22% were sold at asking, and 74% were sold over asking.

Days on Market for 07866, NJ

How long does it take to sell a home in 07866, NJ?

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 07866 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 27 homes were sold in 07866; 4% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 4% 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 07866, NJ

Nearby Markets to 07866, NJ