Home Values

07866 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

$306,400

  • 8.1% 1-year change
  • 1.9% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this zip code relative to other zip codes in the same metropolitan area. A particular zip code may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Hot

Buyers' Market
Sellers' Market

The median home value in 07866 is $306,400. 07866 home values have gone up 8.1% over the past year and Zillow predicts they will rise 1.9% within the next year. The median list price per square foot in 07866 is $191, which is lower than the Rockaway Township average of $194. The median price of homes currently listed in 07866 is $325,000 while the median price of homes that sold is $317,465. The median rent price in 07866 is $1,700, which is higher than the Rockaway Township median of $1,600.

Foreclosures will be a factor impacting home values in the next several years. In 07866 0.9 homes are foreclosed (per 10,000). This is the same as the Rockaway Township value of 0.9 and also lower than the national value of 4.0

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 07866 is 11.8%, 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 07866 homeowners underwater on their mortgage is 12.3%, which is the same as Rockaway Township at 12.3%.

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Relative ZHVI
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07866 Market Overview

Data through Jan 31, 2015
  • $306,400 ZHVI
  • 1.9% 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
    (Jan 31, 2016)
  • $325,000 Median listing price
  • $317,465 Median sale price
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07866 Market Health

Data through Jan 31, 2015
  • 7.5/10 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.
    (Dec 31, 2014)
  • No data Average days on Zillow
  • 12.3% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 11.8% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

0.9 homes(Dec 31, 2014) 07866
0.9 homes(Dec 31, 2014) Rockaway Township
4 homes United States
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Nearby Zip Codes

Name Median ZHVI
07046 $644,500
07950 $433,700
07405 $416,900
Name Median ZHVI
07005 $394,300
07834 $375,900
07435 $320,300
Name Median ZHVI
07438 $284,200
07801 $269,100
07885 $255,700

Listings & Sales

Data through Jan 31, 2015
  • $191 Median list price / sq ft
  • $186 Median sale price / sq ft
  • No data Listings with price cut
28.2%
Sold below listing
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07866 Rentals

Data through Jan 31, 2015
  • Zillow Rent Index

  • $2,287 07866
    $2,286 Rockaway Township
    $1,350 United States

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

  • 2.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,700 Rent list price
  • $1.23 Rent list price / sq ft
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