$10,000 Closing Credit*
$888,000
4 Beds
•3 Full Baths, 1 Partial
Listing Office: COLDWELL BANKER REALTY
Is 07940, 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, 07940 has remained a Seller's Market.
Key Takeaway
07940 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07940, NJ
How much do homes in 07940, NJ cost?
Median Sold Price
$948,000
-
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$47,000(+5.2%)
Key Takeaway
Homes in 07940 have sold for 5.2% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $400K | - | N/A |
| 2 Bedrooms | $470K | $460K | -2.1% |
| 3 Bedrooms | $746.2K | $775K | +3.9% |
| 4 Bedrooms | $1.0M | $1.1M | +3.4% |
| 5+ Bedrooms | $1.7M | $1.9M | +11.5% |
Summary: 07940 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 11.5%.
Housing Supply in 07940, NJ
How many homes are available in 07940, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 42 | 0.0% |
Summary: The 07940 real estate market had 42 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The 07940 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07940, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in 07940 in November 2024, up by 50.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.
Days on Market for 07940, NJ
We’re sorry, we don't have information for this market at the moment
