Is 07960, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 07960 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 07960 has remained a Seller's Market.

Key Takeaway

07960 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 07960, NJ

How much do homes in 07960, NJ cost?

Median Sold Price

$823,000

$403/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$73,000(+9.7%)

Key Takeaway

Homes in 07960 have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in 07960 was $823,000 in October 2024, up 9.7% from last year, and the median price per square foot was $403.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $322K$340K
+5.6%
2 $559K$577.5K
+3.3%
3 $699.9K$746K
+6.6%
4 $827K$951.7K
+15.1%
5+ $1.1M$1.3M
+16.5%

Summary: 07960 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 16.5%.

Median Sold Price Compared To Nearby Zip Codes

07927
+15.6%
07950
+10.2%
07960
+9.7%

Housing Supply in 07960, NJ

How many homes are available in 07960, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
127147+15.7%

Summary: The 07960 real estate market had 147 homes for sale in October 2024, a 15.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 77
0.0%
2 1526
+73.3%
3 4348
+11.6%
4 3238
+18.8%
5+ 3028
-6.7%

Summary: The 07960 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 73.3%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 6.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2631+19.2%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 07960, you could pay more than the asking price. 61.3% of homes here sold above asking price last month.

Summary: A total of 31 homes were sold or pending in 07960 in October 2024, up by 19.2% month-over-month. Of the 31 sold homes, 23% were sold under asking, 16% were sold at asking, and 61% were sold over asking.

Days on Market for 07960, NJ

How long does it take to sell a home in 07960, NJ?

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 07960 has remained consistent over time.

Summary: During October 2024, 31 homes were sold in 07960; 0% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 07960, NJ

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