Listing Office: CORCORAN SAWYER SMITH
Is 07924, 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, 07924 was a Neutral Market.
Key Takeaway
07924 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07924, NJ
How much do homes in 07924, NJ cost?
Median Sold Price
$998,500
$428/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$163,500(+19.6%)
Key Takeaway
Homes in 07924 have sold for 19.6% more than they did a year ago.
Summary: The median home sold price in 07924 was $998,500 in October 2024, up 19.6% from last year, and the median price per square foot was $428.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $247K | $253K | +2.4% |
| 2 Bedrooms | $510K | $437.5K | -14.2% |
| 3 Bedrooms | $652K | $678.9K | +4.1% |
| 4 Bedrooms | $999K | $999K | 0.0% |
| 5+ Bedrooms | $1.6M | $1.6M | +0.7% |
Summary: 07924 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes decreased by 14.2%, 3 bedroom homes increased by 4.1%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 0.7%.
Housing Supply in 07924, NJ
How many homes are available in 07924, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 41 | 53 | +29.3% |
Summary: The 07924 real estate market had 53 homes for sale in October 2024, a 29.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 4 | 10 | +150.0% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 22 | 27 | +22.7% |
Summary: The 07924 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 150%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 22.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07924, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 07924 in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.
Days on Market for 07924, NJ
We’re sorry, we don't have information for this market at the moment
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