HudsonCondos.com
Fort Lee, NJ 07024
Condos/Townhomes
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Fort Lee, NJ 07024
Wed Dec 18 2024
This week the median list price for Fort Lee, NJ 07024 is $885,000 with the market action index hovering around 42. This is an increase over last month's market action index of 41. Inventory has decreased to 63.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $885,000 | |
| Median Price of New Listings | $516,500 | |
| Per Square Foot | $392 | |
| Average Days on Market | 82 | |
| Median Days on Market | 56 | |
| Price Decreased | 16% | |
| Price Increased | 2% | |
| Relisted | 10% | |
| Inventory | 63 | |
| Median Rent | ||
| Market Action | 42 | |
| Slight Seller's Advantage | ||
In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,649,999 | 4,200 | - | 4 | 4 | 24 | 1 | 1 | 21 |
| $1,169,500 | 2,934 | - | 3 | 3 | 24 | 1 | 2 | 73 |
| $676,500 | 0 | - | 2 | 2.5 | 44 | 1 | 1 | 73 |
| $352,000 | 0 | - | 1 | 1 | 64 | 3 | 7 | 42 |