$800,000
0.26 Acres
Land
Listing Office: ERA SUBURB REALTY
Is 07922, 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, 07922 has remained a Seller's Market.
Key Takeaway
07922 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07922, NJ
How much do homes in 07922, NJ cost?
Median Sold Price
$817,500
$328/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$90,500(+12.4%)
Key Takeaway
Homes in 07922 have sold for 12.4% more than they did a year ago.
Summary: The median home sold price in 07922 was $817,500 in November 2024, up 12.4% from last year, and the median price per square foot was $328.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $217.5K | $310K | +42.5% |
| 2 Bedrooms | $440K | $476.5K | +8.3% |
| 3 Bedrooms | $583K | $733.7K | +25.9% |
| 4 Bedrooms | $775K | $960K | +23.9% |
| 5+ Bedrooms | $960K | $1.0M | +12.9% |
Summary: 07922 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.5%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 25.9%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Zip Codes
| 07974 | $780K | $880K | +12.8% |
| 07922 | $727K | $817.5K | +12.4% |
| 07933 | $600K | $635K | +5.8% |
| 07069 | $932.7K | $982.5K | +5.3% |
| 07092 | $854K | $884.5K | +3.6% |
Housing Supply in 07922, NJ
How many homes are available in 07922, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 23 | -17.9% |
Summary: The 07922 real estate market had 23 homes for sale in November 2024, a 17.9% 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 | 5 | 1 | -80.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 07922 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 80%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 6 | -53.8% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07922, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 07922 in November 2024, down by 53.8% month-over-month. Of the 6 sold homes, 0% were sold under asking, 17% were sold at asking, and 83% were sold over asking.
Days on Market for 07922, NJ
How long does it take to sell a home in 07922, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 8 Days | -75.8% |
Summary: Homes in 07922 had an average of 8 days on market in Nov 2024, down by 75.8% compared to last year.
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 07922 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in 07922; 17% 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.