$5,284 Closing Credit*
$445,000
3 Beds
•1 Full Bath
Robert Dekanski, Listing Office: RE/MAX 1st Advantage
Is 07874, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$382,500
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$37,500(+10.9%)
Key Takeaway
Homes in 07874 have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in 07874 was $382,500 in October 2024, up 10.9% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242K | $270K | +11.6% |
| 2 Bedrooms | $270K | $315K | +16.7% |
| 3 Bedrooms | $380K | $407.5K | +7.2% |
| 4 Bedrooms | $429.5K | $540K | +25.7% |
| 5+ Bedrooms | $435K | $535K | +23.0% |
Summary: 07874 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes increased by 23%.
Housing Supply in 07874, NJ
How many homes are available in 07874, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 44 | +4.8% |
Summary: The 07874 real estate market had 44 homes for sale in October 2024, a 4.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 15 | 17 | +13.3% |
| 4 Bedrooms | 9 | 13 | +44.4% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 07874 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07874, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 07874 in October 2024, the same as the previous month. Of the 8 sold homes, 13% were sold under asking, 13% were sold at asking, and 75% 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.