Bloomfield, NJ 07003 Real Estate Market Report

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.

Market Metrics

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.

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.

Property Taxes

Liquidity & Velocity

Market Trends & Context

Key Findings

1. The primary indicator of recent market value is the median sold price of $540,500, which represents the most reliable reflection of transaction activity in the neighborhood.
2. There is a measurable spread between the median listing price of $575,000 and the median sold price of $540,500, which may indicate pricing friction where seller expectations exceed recent transaction levels; monitor listing-to-sale convergence for signs of repricing.
3. The median days on market of 308 points to slower sales velocity in observed transactions and suggests prolonged marketing times compared with faster-moving cycles; this may require sellers to adjust pricing or marketing strategies.
4. Both price and rent momentum are positive: the price year-over-year trend is up and the rent year-over-year trend is up; combined with a median price per square foot of 367 and median market rent of $2,350, this supports continued interest from owner-occupiers and investors, though watch for tightening yields and capitalization assumptions.

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.