$4,619 Closing Credit*
$389,000
3 Beds
•1 Full Bath, 1 Partial
Listing Office: KELLER WILLIAMS METROPOLITAN
Is 07885, 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, 07885 was a Seller's Market.
Key Takeaway
07885 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
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 October 2023
+$62,500(+15.3%)
Key Takeaway
Homes in 07885 have sold for 15.3% more than they did a year ago.
Summary: The median home sold price in 07885 was $470,000 in October 2024, up 15.3% from last year, and the median price per square foot was $287.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $277.5K | $290K | +4.5% |
| 2 Bedrooms | $375K | $434.9K | +16.0% |
| 3 Bedrooms | $415K | $470K | +13.3% |
| 4 Bedrooms | $445.5K | $530K | +19.0% |
| 5+ Bedrooms | $770.3K | - | N/A |
Summary: 07885 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 13.3%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 39 | +8.3% |
Summary: The 07885 real estate market had 39 homes for sale in October 2024, a 8.3% increase 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 | 14 | 18 | +28.6% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 07885 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 28.6%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 6 | -57.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was 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. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 07885 in October 2024, down by 57.1% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for 07885, NJ
We’re sorry, we don't have information for this market at the moment
