Bloomfield, NJ 07003 Real Estate Market Report

ZIP Code: 07003
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Bloomfield NJ 07003 are approximately 6.5%, which is consistent with the 2026 market average for this loan type.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. $577,000 median sold price is the primary market value signal and, being close to the $586,944 median listing price, suggests limited pricing friction between asking and transaction levels in recent closings; market transactions generally support seller pricing.

2. median days on market 282 points to slower sales velocity relative to typical hot markets and may indicate longer marketing periods even as prices rise; slower turnover despite price strength.

3. hot market temperature combined with the sample's characterization of relatively constrained active supply suggests ongoing seller advantage and continued upward price pressure (price year-over-year trend: up); demand-driven pricing.

4. $2,300 median market rent is rising year-over-year (rent year-over-year trend: up), while interest rate pressure is assessed as moderate and 30-year fixed mortgage rates are approximately 6.5% in the market—financing conditions remain a moderating factor for buyer affordability and investor calculus.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Bloomfield, NJ 07003 Real Estate Market Report

ZIP Code: 07003
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Bloomfield NJ 07003 are approximately 6.5%, which is consistent with the 2026 market average for this loan type.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood’s primary market signal is the median sold price of 279,999, which indicates recent transaction-level value in the local SFR/condo market and supports the assessment that pricing is up on a year-over-year basis.

2. Despite the price strength, liquidity shows friction: the median days on market is 196, which suggests slower sales velocity and that transactions may take longer to close even as the market temperature is hot.

3. Pricing density points to higher-end square-foot valuation: the median price per square foot is 327, which together with the median sold price implies buyer willingness to pay a premium per unit area in completed sales.

4. Rental and financing context: median market rent is 2,250, rents are up year-over-year, and prevailing 30-year fixed mortgage rates are approximately 6.5% with moderate interest rate pressure — these conditions support sustained demand from renters while keeping buyer financing sensitivity elevated.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.