$10,000 Closing Credit*
$875,000
3,268 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: WEICHERT REALTORS
Is 07871, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 07871 was a Seller's Market.
Key Takeaway
07871 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07871, NJ
How much do homes in 07871, NJ cost?
Median Sold Price
$550,000
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,000(+4.8%)
Key Takeaway
Homes in 07871 have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in 07871 was $550,000 in October 2024, up 4.8% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $300K | +20.0% |
| 2 Bedrooms | $350K | $361.5K | +3.3% |
| 3 Bedrooms | $447.4K | $479K | +7.1% |
| 4 Bedrooms | $675K | $666.7K | -1.2% |
| 5+ Bedrooms | $923.2K | $935K | +1.3% |
Summary: 07871 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 1.3%.
Housing Supply in 07871, NJ
How many homes are available in 07871, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 107 | 106 | -0.9% |
Summary: The 07871 real estate market had 106 homes for sale in October 2024, a 0.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 8 | 10 | +25.0% |
| 3 Bedrooms | 36 | 41 | +13.9% |
| 4 Bedrooms | 44 | 42 | -4.5% |
| 5+ Bedrooms | 17 | 12 | -29.4% |
Summary: The 07871 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 13.9%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 29.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 14 | -53.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07871, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 07871 in October 2024, down by 53.3% month-over-month. Of the 14 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% were sold over asking.
Days on Market for 07871, NJ
How long does it take to sell a home in 07871, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 07871 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 14 homes were sold in 07871; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
