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 20 Days Ago

Newest Listings in 07866, NJ

Nearby Markets to 07866, NJ