07740 ZIP Code Housing Market
$815,000median sale price
Quick answer: The median home sale price in ZIP code 07740 is $815,000, down 5.0% year-over-year. Homes sell in an average of 47 days with 137 active listings. The market is currently a balanced market.
Is the 07740 ZIP code a buyer's or seller's market?
ZIP code 07740 is currently a balanced market and homes selling in about 47 days. How we determine this →
07740 market data
| Metric | Value |
|---|---|
| Median sale price | $815,000 |
| Median list price | $999,000 |
| Year-over-year price change | -5.0% |
| Average days on market | 47 days |
| Active inventory | 137 listings |
| Sale-to-list price ratio | 96.4% |
| Market condition | Balanced market |
Source: Redfin · Updated weekly
The 07740 zip code, located in Andover, NJ, is currently classified as a balanced market. The median sale price stands at $815,000, representing a -5.0% change year over year. Homes in this area spend an average of 47 days on the market before going under contract. There are currently 137 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 07740 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
54
Last 12 weeks
Days on market
47
Average pace
Active listings
137
Sale-to-list
96.4%
Below asking
Market trends
Market analysis for 07740
The 07740 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 96.4% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 07740 have declined -5.0% compared to last year, which may present opportunities for buyers looking to enter the market at a lower price point. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 07740 stands at $808,420, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $2,733 per month. This gives a price-to-rent ratio of approximately 24.7, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
32,917
Median income
$79,870/yr
Median age
36.7 years
Owner-occupied
4265.0%
College grads
3609.0%
Avg commute
31.88 min
Living in 07740
Zip code 07740 is home to approximately 32,917 residents. The median household income is $79,870 per year, which shapes the types of homes and amenities available in the area. With a median age of 36.7 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 4265.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 3609.0% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 31.88 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 07740.
Top public schools in ZIP 07740
9 schools tracked · 5,436 students
The largest public schools serving ZIP code 07740 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Long Branch High School
Grades 9-12 · 1,515 students
Long Branch Middle School
Grades 6-8 · 1,122 students
George L Catrambone
Grades K-5 · 675 students
A A Anastasia Elementary School
Grades K-5 · 588 students
Gregory Elementary School
Grades K-5 · 563 students
Lenna W. Conrow Elementary School
Grades PK-K · 325 students
Joseph M. Ferraina Early Childhood Learning Center
Grades PK-K · 292 students
Morris Avenue Elementry School
Grades PK-K · 286 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 07740
What is the median home price in 07740?
The current median sale price in 07740 is $815,000, based on recent Redfin transaction data. Prices have changed -5.0% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 07740 a buyer's or seller's market?
The 07740 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 07740?
Zip code 07740 has a population of approximately 32,917 residents. The median household income is $79,870 per year. About 4265.0% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 07740?
Properties Incorporated provides comprehensive data for 07740 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 07740 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
Pre-launch · for real estate professionals
Reserve a slot on this page
Get your brokerage in front of buyers focused on this specific ZIP on the ZIP 07740 market page when featured listings launch in the next 1-2 weeks. One brokerage slot per page, billed monthly once live.
$50 / month
Reserve slotGet zip code 07740 market alerts
Weekly updates on prices, inventory, and trends. Free forever.