Home Values

07407 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

$315,300

  • 3.0% 1-year change
  • 0.4% 1-year forecast

The median home value in 07407 is $315,300. 07407 home values have gone up 3.0% over the past year and Zillow predicts they will rise 0.4% within the next year. The median list price per square foot in 07407 is $222, which is the same as the Elmwood Park average of $222. The median price of homes currently listed in 07407 is $324,900 while the median price of homes that sold is $292,450. The median rent price in 07407 is $1,525, which is the same as the Elmwood Park median of $1,525.

Foreclosures will be a factor impacting home values in the next several years. In 07407 1.1 homes are foreclosed (per 10,000). This is the same as the Elmwood Park value of 1.1 and also lower than the national value of 3.9

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 07407 homeowners underwater on their mortgage is 17.9%, which is higher than Elmwood Park at 16.4%.

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Relative ZHVI
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07407 Market Overview

Data through Feb 28, 2015
  • $315,300 ZHVI
  • 0.4% 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
    (Feb 29, 2016)
  • $324,900 Median listing price
  • $292,450 Median sale price (Dec 31, 2014)
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07407 Market Health

Data through Feb 28, 2015
  • 4.1/10 Less 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
  • 17.9% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.3% US Avg)

Homes foreclosed (per 10,000)

1.1 homes 07407
1.1 homes Elmwood Park
3.9 homes United States
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Nearby Zip Codes

Name Median ZHVI
07410 $355,600
07663 $340,200
07662 $308,700
Name Median ZHVI
07026 $285,000
07011 $271,100
07504 $219,300
Name Median ZHVI
07513 $210,300
07503 $201,100
07514 $200,400

Listings & Sales

Data through Feb 28, 2015
  • $222 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 13.2% Listings with price cut
24.3%
Sold below listing
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07407 Rentals

Data through Feb 28, 2015
  • 1.7 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,525 Rent list price
  • $2.08 Rent list price / sq ft
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