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Fort Lee, NJ 07024

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Fort Lee, NJ 07024

Fri Mar 29 2024
This week the median list price for Fort Lee, NJ 07024 is $499,000 with the market action index hovering around 41. This is an increase over last month's market action index of 40. Inventory has increased to 47. Click here to stay informed with the Fort Lee market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Fort Lee, NJ 07024

Fri Mar 29 2024
This week the median list price for Fort Lee, NJ 07024 is $499,000 with the market action index hovering around 41. This is an increase over last month's market action index of 40. Inventory has increased to 47. Click here to stay informed with the Fort Lee market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Fort Lee market.
Median List Price $499,000
Median Price of New Listings $524,500
Per Square Foot $420
Average Days on Market 66
Median Days on Market 35
Price Decreased 11%
Price Increased 0%
Relisted 11%
Inventory 47
Median Rent
Market Action 41
Slight Seller's Advantage

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

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
$1,269,000 0 - 3 3.5 NaN 3 1 28
$624,000 1,447 - 2 2.5 21 2 3 63
$437,000 1,153 - 1 1 63 3 2 38
$352,000 1,493 - 1 1 64 2 1 17