Allison Ziefert's Market Reports
Bloomfield, NJ 07003
Single-Family Homes
Allison Ziefert Real Estate Group | allison@azhomesnj.com | 973.310.6816
Bloomfield, NJ 07003
Wed Apr 24 2024
This week the median list price for Bloomfield, NJ 07003 is $669,000 with the market action index hovering around 69. This is an increase over last month's market action index of 64. Inventory has held steady at or around 18.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $669,000 | |
| Median Price of New Listings | $684,000 | |
| Per Square Foot | $401 | |
| Average Days on Market | 17 | |
| Median Days on Market | 7 | |
| Price Decreased | 11% | |
| Price Increased | 0% | |
| Relisted | 17% | |
| Inventory | 18 | |
| Median Rent | ||
| Market Action | 69 | |
| Strong Seller's Market | ||
You can see that prices in this zip code are marching upward and that we’re getting close to the market’s all time high. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $796,950 | 2,313 | 6,500 - 8,000 sqft | 4 | 3.5 | 43 | 1 | 1 | 24 |
| $699,000 | 1,587 | 4,500 - 6,500 sqft | 4 | 3 | 95 | 3 | 1 | 0 |
| $635,000 | 1,510 | 4,500 - 6,500 sqft | 3 | 1.5 | 93 | 3 | 2 | 0 |
| $565,000 | 1,432 | 6,500 - 8,000 sqft | 3 | 1.5 | 91 | 1 | 0 | 14 |