07748 Housing Market Report December 2024•Monmouth County, New Jersey

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Housing Prices in 07748, NJ

How much do homes in 07748, NJ cost?

Housing Market Conditions

Is 07748, 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

07748 is a Seller's Market

Difference Since December 2023

Since last year, 07748 has remained a Seller's Market.

Insight

07748 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.
$662,500$341/SqFt
+$62,500
+10.4%

Based on all homes sold in the last 12 months

Insight

Homes in 07748 have sold for 10.4% more than they did a year ago.

Summary: The median home sold price in 07748 was $662,500 in December 2024, up 10.4% from last year, and the median price per square foot was $341.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
07758
+21.6%
07701
+16.3%
07734
+13.8%
07718
+12.0%
07748
+10.4%

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.
BedsDec 2023Dec 2024Change YoY
1$314K$315.5K
0.5%
2$358.5K$426.2K
+18.9%
3$524.9K$546K
+4.0%
4$719.9K$806K
+12.0%
5$779K$964.9K
+23.9%

Summary: 07748 housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by 0.5%. The home price for 2 bedroom homes increased by +18.9%. The home price for 3 bedroom homes increased by +4.0%. The home price for 4 bedroom homes increased by +12.0%. The home price for 5 bedroom homes increased by +23.9%.

Housing supply in 07748, NJ

How many homes are available in 07748, 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
66Last MonthDec 2024
942 months agoNov 2024
-29.8 %
Change MoMNov – Dec

Summary: The 07748 real estate market had 66 homes for sale in Dec 2024, a 29.8 % decrease compared to Nov 2024.

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
33Last MonthDec 2024
222 months agoNov 2024
+50.0 %
Change MoMNov – Dec

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.
BedsNov 2024Dec 2024Change MoM
112
+100.0%
2129
-25.0%
34023
-42.5%
43125
-19.4%
5107
-30.0%

Summary: 07748 housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes decreased by -25.0%. The inventory for 3 bedroom homes decreased by -42.5%. The inventory for 4 bedroom homes decreased by -19.4%. The inventory for 5 bedroom homes decreased by -30.0%.

Asking Price vs. Sold Price

How much do homes in 07748, 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 Price18 Homes

At Asking Price2 Homes

Under Asking Price13 Homes

Insight

If you're buying a home in 07748, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.

Summary: A total of 33 homes were sold or pending in 07748 in December 2024, up by 50.0% month-over-month. Of the 33 sold homes, 39% were sold under asking, 6% were sold at asking, and and 55% were sold over asking.

Days on Market for 07748, NJ

How long does it take to sell a home in 07748, NJ?

Breakdown of Home Sale Times

Under 30 Days17 Homes

30 – 90 Days11 Homes

Over 90 Days3 Homes

Insight

Many homes in 07748 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 33 homes were sold in 07748; 52% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 9% 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.
This Year1 year agoChange YoY
43 DaysThis YearDec 2024
37 Days1 year agoDec 2023
+15.4 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in 07748 had an average listing age of 43 days in Dec 2024, up by 15.4% compared to the previous year.

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Newest Listings in 07748, NJ

What homes are available in 07748, NJ?

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MLS Disclaimers and Copyright

Based on information from Monmouth Ocean Regional MLS, and ALL JERSEY MLS for the period 01/01/2023 - 01/01/2025

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: 1/30/2025, 10:23:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2025, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/30/2025, 10:20:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.