Is ZIP 07940, NJ 07940 a buyer’s or seller’s market?

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

ZIP 07940 is a seller’s market. With about 0.7 months of supply and 78% 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 supply0.7Under 4 months = seller’s market

Sold above list78.2%Share of recent sales

Median sale-to-list110%Sold price ÷ list price

Median days on market16Listing to accepted offer

Median price per sq ft$609▲ +8.7% vs. last year

Run the numbers for 07940

Prefilled for 07940Can 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 07005 07005Seller’s market $365 /sq ft ZIP 07034 07034Seller’s market $403 /sq ft ZIP 07035 07035Seller’s market $371 /sq ft ZIP 07045 07045Seller’s market $358 /sq ft Browse all markets →

Market data describes housing activity only.