07723 Housing Market Report May 2025•Monmouth County, New Jersey

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Housing Prices in 07723, NJ

How much do homes in 07723, NJ cost?

Housing Market Conditions

Is 07723, 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

07723 is a Buyer's Market

Difference Since April 2025

Last month, 07723 was a Neutral Market.

Insight

07723 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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.
$690,000–
-$4,310,000
-86.2%

Based on all homes sold in May 2025

Insight

Homes in 07723 have sold for 86.2% less than they did a month ago.

Summary: The median home sold price in 07723 was $690,000 in May 2025, down 86.2% from last month, and the median price per square foot was $0.

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.
BedsApr 2025May 2025Change MoM
1-$690K
N/A
2--
N/A
3--
N/A
4--
N/A
5$5.0M-
N/A

Summary: 07723 housing price by bedroom type for May 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.

How does 07723, NJ compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

07723, NJ

Housing supply in 07723, NJ

How many homes are available in 07723, 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
10Last MonthMay 2025
72 months agoApr 2025
+42.9 %
Change MoMApr – May

Summary: The 07723 real estate market had 10 homes for sale in May 2025, a 42.9 % increase compared to Apr 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
1Last MonthMay 2025
12 months agoApr 2025
0.0 %
Change MoMApr – May

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.
BedsApr 2025May 2025Change MoM
111
0.0%
202
+100.0%
312
+100.0%
412
+100.0%
543
-25.0%

Summary: 07723 housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +100.0%. The inventory for 3 bedroom homes increased by +100.0%. The inventory for 4 bedroom homes increased by +100.0%. The inventory for 5 bedroom homes decreased by -25.0%.

Asking Price vs. Sold Price

How much do homes in 07723, 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 Price0 Home

At Asking Price0 Home

Under Asking Price1 Home

Insight

If you're buying a home in 07723, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 07723 in May 2025, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.

Days on Market for 07723, NJ

How long does it take to sell a home in 07723, NJ?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in 07723 are selling fast, if you're buying plan to act quickly.

Summary: During May 2025, 1 homes were sold in 07723; 100% of homes were sold within 30 days, 0% 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
17 DaysLast MonthMay 2025
103 Days1 month agoApr 2025
-83.5 %
Change MoMApr – May

Summary: Homes in 07723 had an average listing age of 17 days in May 2025, down by 83.5% compared to the previous month.

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Newest Listings in 07723, NJ

What homes are available in 07723, NJ?

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MLS Disclaimers and Copyright

Based on information from Monmouth Ocean Regional MLS, for the period 04/01/2025 - 06/01/2025

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: 6/12/2025, 9:40:34 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.