The 07031 housing market is somewhat competitive. The median sale price of a home in 07031 was $650K last month, up 39.0% since last year. The median sale price per square foot in 07031 is $397, up 26.2% since last year.
In May 2024, 07031 home prices were up 39.0% compared to last year, selling for a median price of $650K. On average, homes in 07031 sell after 60 days on the market compared to 58 days last year. There were 21 homes sold in May this year, down from 24 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$650,000
+39.0% YoY | May 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
May 2024
Growth
% YoY
07031, NJ
$650,000
+39.0%
United States
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How hot is the 07031 housing market?
07031 is somewhat competitive. Homes sell in 64 days.
0
100
68
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 6 months
Some homes get multiple offers.
The average homes sell for about 7% above list price and go pending in around 64 days.
Hot homes
can sell for about 13% above list price and go pending in around 45 days.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on 07031 housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in 07031.
Risk Factor
Flood Factor - Severe
20% of properties are at risk of severe flooding over the next 30 years
Flood Factor
07031 has a severe risk of flooding. 633 properties in 07031 are likely to be
severely affected
by flooding over the next 30 years. This represents 20% of all properties in 07031. Flood risk is increasing slower than the national average.
4% of properties are at risk of wildfire over the next 30 years
Fire Factor
07031 has a moderate risk of wildfire. There are 209 properties in 07031 that have some risk of being affected by wildfire over the next 30 years. This represents 4% of all properties in 07031.
100% of properties are at major
risk of a severe wind event over the next 30 years
Wind Factor
07031 has a Major Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. 07031 is most at risk from hurricanes. 4,265 properties in 07031 have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 93 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 104 mph.