07716 Housing Market Report February 2025•Monmouth County, New Jersey

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Housing Prices in 07716, NJ

How much do homes in 07716, NJ cost?

Housing Market Conditions

Is 07716, NJ a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

07716 is a Seller's Market

Difference Since January 2025

Last month, 07716 was a Buyer's Market.

Insight

07716 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$525,000$437/SqFt
-$875,000
-62.5%

Based on all homes sold in February 2025

Insight

Homes in 07716 have sold for 62.5% less than they did a month ago.

Summary: The median home sold price in 07716 was $525,000 in February 2025, down 62.5% from last month, and the median price per square foot was $437.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2025Feb 2025Change MoM
1--
N/A
2-$525K
N/A
3$900K-
N/A
4$1.5M-
N/A
5--
N/A

Summary: 07716 housing price by bedroom type for February 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes did not change. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

Housing supply in 07716, NJ

How many homes are available in 07716, NJ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
21Last MonthFeb 2025
212 months agoJan 2025
0.0 %
Change MoMJan – Feb

Summary: The 07716 real estate market had 21 homes for sale in Feb 2025, the same as Jan 2025

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
4Last MonthFeb 2025
32 months agoJan 2025
+33.3 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
144
0.0%
245
+25.0%
352
-60.0%
457
+40.0%
533
0.0%

Summary: 07716 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +25.0%. The inventory for 3 bedroom homes decreased by -60.0%. The inventory for 4 bedroom homes increased by +40.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 07716, NJ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price3 Homes

Under Asking Price0 Home

Insight

If you're buying a home in 07716, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in 07716 in February 2025, up by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 75% were sold at asking, and and 25% were sold over asking.

Days on Market for 07716, NJ

How long does it take to sell a home in 07716, NJ?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days3 Homes

Over 90 Days0 Home

Insight

Avg time on Rocket Homes in 07716 has remained consistent over time.

Summary: During February 2025, 4 homes were sold in 07716; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
49 DaysLast MonthFeb 2025
42 Days1 month agoJan 2025
+16.0 %
Change MoMJan – Feb

Summary: Homes in 07716 had an average listing age of 49 days in Feb 2025, up by 16.0% compared to the previous month.

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Newest Listings in 07716, NJ

What homes are available in 07716, NJ?

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MLS Disclaimers and Copyright

Based on information from Monmouth Ocean Regional MLS, for the period 01/01/2025 - 03/01/2025

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2025 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/3/2025, 1:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.