The 07040 housing market is very competitive. Homes in 07040 receive 3 offers on average and sell in around 22 days. The median sale price of a home in 07040 was $803K last month, up 18.4% since last year. The median sale price per square foot in 07040 is $512, up 18.4% since last year.
In March 2024, 07040 home prices were up 18.4% compared to last year, selling for a median price of $803K. On average, homes in 07040 sell after 22 days on the market compared to 33 days last year. There were 52 homes sold in March this year, up from 36 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$802,500
+18.4% YoY | Mar 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Mar 2024
Growth
% YoY
07040, NJ
$802,500
+18.4%
United States
To compare other locations to the 07040 and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in New Jersey add value to a home.
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How hot is the 07040 housing market?
07040 is very competitive. Homes sell in 17 days.
0
100
82
Very Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Many homes get multiple offers, some with waived contingencies.
The average homes sell for about 12% above list price and go pending in around 17 days.
Hot homes
can sell for about 25% above list price and go pending in around 10 days.
This area's enrollment policy is not based solely on geography. Please check the school district website for more information.
GreatSchools Rating
9/10
Wyoming Elementary School
Public • K-4
327
Students
9 reviews
8/10
Jefferson Elementary School
Public • 3-5
555
Students
9 reviews
7/10
Tuscan Elementary School
Public • K-5
626
Students
8 reviews
6/10
Seth Boyden Elementary School
Public • K-5
496
Students
5 reviews
6/10
Chancellor Avenue Elementary School
Public • K-5
482
Students
1 reviews
Only showing 5 of
9 elementary schools.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on 07040 housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in 07040.
Risk Factor
Flood Factor - Moderate
14% of properties are at risk of severe flooding over the next 30 years
Flood Factor
07040 has a moderate risk of flooding. 678 properties in 07040 are likely to be
severely affected
by flooding over the next 30 years. This represents 14% of all properties in 07040. Flood risk is increasing slower than the national average.
25% of properties are at risk of wildfire over the next 30 years
Fire Factor
07040 has a moderate risk of wildfire. There are 1,889 properties in 07040 that have some risk of being affected by wildfire over the next 30 years. This represents 25% of all properties in 07040.
100% of properties are at major
risk of a severe wind event over the next 30 years
Wind Factor
07040 has a Major Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. 07040 is most at risk from hurricanes. 7,480 properties in 07040 have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 83 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 92 mph.