Home Values

07027 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

$359,200

  • 10.5% 1-year change
  • 1.0% 1-year forecast

The median home value in 07027 is $359,200. 07027 home values have gone up 10.5% over the past year and Zillow predicts they will rise 1.0% within the next year. The median price of homes currently listed in 07027 is $365,000 while the median price of homes that sold is $445,758. The median rent price in 07027 is $1,850, which is the same as the Garwood median of $1,850.

Foreclosures will be a factor impacting home values in the next several years. In 07027 4.2 homes are foreclosed (per 10,000). This is the same as the Garwood value of 4.2 and also lower than the national value of 4.5

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 07027 is 11.8%, which is higher than the national value of 6.9%. 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 07027 homeowners underwater on their mortgage is 16.6%, which is the same as Garwood at 16.6%.

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Relative ZHVI
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07027 Market Overview

Data through Oct 31, 2014
  • $359,200 ZHVI
  • 1.0% 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
    (Oct 31, 2015)
  • $365,000 Median listing price
  • No recent data Median sale price
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07027 Market Health

Data through Oct 31, 2014
  • 8.0/10 Very 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
  • 16.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 11.8% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Zip Codes

Name Median ZHVI
07090 $696,100
07092 $571,300
07076 $446,400
Name Median ZHVI
07016 $434,900
07066 $403,700
07081 $391,800
Name Median ZHVI
07033 $321,300
07204 $247,300
07065 $234,800

Listings & Sales

Data through Oct 31, 2014
  • No recent data Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 39.1% Listings with price cut
7.4%
Sold below listing
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07027 Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $2,043 07027
    $2,042 Garwood
    $1,337 United States

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

  • 2.7 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No recent data Rent list price
  • No data Rent list price / sq ft
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