$4,453 Closing Credit*
$375,000
3 Beds
•1 Full Bath
Listing Office: BHHS GROSS AND JANSEN REALTORS
Is 07874, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 07874 has remained a Seller's Market.
Key Takeaway
07874 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07874, NJ
How much do homes in 07874, NJ cost?
Median Sold Price
$385,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$28,000(+7.8%)
Key Takeaway
Homes in 07874 have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in 07874 was $385,000 in November 2024, up 7.8% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $246.5K | $277.5K | +12.6% |
| 2 Bedrooms | $270K | $320K | +18.5% |
| 3 Bedrooms | $390K | $410K | +5.1% |
| 4 Bedrooms | $429.5K | $540K | +25.7% |
| 5+ Bedrooms | $452.5K | $507.5K | +12.2% |
Summary: 07874 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes increased by 18.5%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes increased by 12.2%.
Housing Supply in 07874, NJ
How many homes are available in 07874, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 42 | 0.0% |
Summary: The 07874 real estate market had 42 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 4 | -33.3% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 17 | 21 | +23.5% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 07874 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 23.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07874, you could pay more than the asking price. 72.7% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 07874 in November 2024, up by 22.2% month-over-month. Of the 11 sold homes, 9% were sold under asking, 18% were sold at asking, and 73% were sold over asking.
Days on Market for 07874, NJ
We’re sorry, we don't have information for this market at the moment
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.