$6,175 Closing Credit*
$519,963
4 Beds
•2 Full Baths, 1 Partial
Listing Office: REALTY EXECUTIVES FIRST CLASS
Is 07885, 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, 07885 has remained a Buyer's Market.
Key Takeaway
07885 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07885, NJ
How much do homes in 07885, NJ cost?
Median Sold Price
$470,000
$287/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$65,000(+16.0%)
Key Takeaway
Homes in 07885 have sold for 16% more than they did a year ago.
Summary: The median home sold price in 07885 was $470,000 in November 2024, up 16% from last year, and the median price per square foot was $287.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $302.5K | $290K | -4.1% |
| 2 Bedrooms | $375K | $424.5K | +13.2% |
| 3 Bedrooms | $415K | $468.2K | +12.8% |
| 4 Bedrooms | $445.5K | $530K | +19.0% |
| 5+ Bedrooms | $770.3K | - | N/A |
Summary: 07885 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.1%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 19%, and 5+ bedroom homes did not change.
Housing Supply in 07885, NJ
How many homes are available in 07885, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 36 | 35 | -2.8% |
Summary: The 07885 real estate market had 35 homes for sale in November 2024, a 2.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 18 | 14 | -22.2% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 07885 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 37.5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07885, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 07885 in November 2024, down by 42.9% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for 07885, NJ
How long does it take to sell a home in 07885, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 07885 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in 07885; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
