Home Values

07003 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$296,900

  • 15.1% 1-year change
  • 3.4% 1-year forecast

The median home value in 07003 is $296,900. 07003 home values have gone up 15.1% over the past year and Zillow predicts they will rise 3.4% within the next year. The median list price per square foot in 07003 is $180, which is higher than the Bloomfield average of $179. The median price of homes currently listed in 07003 is $270,000 while the median price of homes that sold is $298,502.

Foreclosures will be a factor impacting home values in the next several years. In 07003 0.6 homes are foreclosed (per 10,000). This is the same as the Bloomfield value of 0.6 and also lower than the national value of 4.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 07003 is 19.7%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 07003 homeowners underwater on their mortgage is 23.3%, which is the same as Bloomfield at 23.3%.

Read more
Relative ZHVI
- +

07003 Market Overview

Data through Nov 30, 2014
  • $296,900 ZHVI
  • 3.4% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $270,000 Median listing price
  • $298,502 Median sale price (Sep 30, 2014)
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

07003 Market Health

Data through Nov 30, 2014
  • 6.3/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 23.3% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 19.7% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Nearby Zip Codes

Name Median ZHVI
07031 $327,600
07013 $324,700
07012 $312,000
Name Median ZHVI
07014 $298,200
 
 

Listings & Sales

Data through Nov 30, 2014
  • $180 Median list price / sq ft
  • $196 Median sale price / sq ft (Sep 30, 2014)
  • No data Listings with price cut
21.2%
Sold below listing
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

07003 Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $1,760 07003
    $1,771 Bloomfield
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 3.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading