Is ZIP 07040, NJ 07040 a buyer’s or seller’s market?

Seller’s market As of 2026-08-31 · Source: Redfin

ZIP 07040 is a seller’s market. With about 1.1 months of supply and 81% of homes selling above list, expect competing offers on well-priced homes. Buyers here typically need a pre-approval in hand and a plan for the appraisal gap before touring.

Months of supply1.1Under 4 months = seller’s market

Sold above list80.8%Share of recent sales

Median sale-to-list115.4%Sold price ÷ list price

Median days on market14Listing to accepted offer

Median price per sq ft$599▲ +17.6% vs. last year

Run the numbers for 07040

Prefilled for 07040Can I win this house?Multiple-offer likelihood for a listing Coming soonOver-asking calculatorTypical range over list Coming soonOffer strength scoreHow your offer looks to a seller Coming soonAppraisal gapCash needed if it appraises low

Nearby markets

ZIP 07003 07003Seller’s market $421 /sq ft ZIP 07004 07004Seller’s market $393 /sq ft ZIP 07006 07006Seller’s market $434 /sq ft ZIP 07009 07009Seller’s market $422 /sq ft Browse all markets →

Market data describes housing activity only.