Real Estate Market Update for 07055 (Passaic, NJ)
Welcome to December's Market Update,. Let’s take a look at residential real-estate activity in your area during the month of December. The number of active listings was down 20% from one year earlier, and down 12% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 190-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 63%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 170-thousand dollars. The number of units sold was consistent year-over-year, and decreased 25% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Show Transcript
Map Information for 07055 (Passaic, NJ)
Area Information for 07055 (Passaic, NJ)
  • Population: 71,026
  • Median Age: 28.69 yr
  • Median Commute Time: 21.97 mins
  • Educational Climate*: 2
  • Sales Tax: 6.909%
  • Population Density: 22,615/sq mi
  • Population Change Since 2000: 4.39%
  • Closest Airport: Newark Liberty International
  • Closest College: Felician College
  • Closest Jr. College: Dover Business College
  • Median Household Income: $31,820
  • Annual Residential Turnover: 15.16%
  • Median Years in Residence: 2.46 yr
  • Median Home Sales Price: $170,000
  • Closest Major Sports Team: New Jersey Devils
  • Change Avg. Household Income Since 2000: -6%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 07055 (Passaic, NJ)
Median Age: 28.69 Married: 19% Number of Households: 20,137 Households with Children: 10,030
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 07055 (Passaic, NJ)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Passaic High School 0.1 mi Public 9-12 0 2
      Passaic Clifton Cheder / Bais Yaakov 0.2 mi Private PRESCHOOL-8 0 0
      Number 4, Lincoln Middle School 0.2 mi Public 7-8 1 2
      New Generation Christian Academy 0.2 mi Private - 0 0
      Number 16 0.3 mi Public PRESCHOOL-K 0 0
      Passaic Arts And Science Charter School 0.3 mi Public 4-8 2-5 0
      Our Lady Of Mount Carmel School 0.3 mi Catholic PRESCHOOL-2 0 4
      Yeshiva Ktana Of Passaic Girls 0.4 mi Private K-12 0 3
      Yeshiva Ktana Girls 0.4 mi Private K-8 0 0
      Bais Yaakov Of Passaic High School 0.4 mi Private 9-12 0 0
      Collegiate School 0.4 mi Private PRESCHOOL-12 0 3
      Number 11, Cruise Memorial Elementary School 0.4 mi Public 1-6 0 4
      Ybh Of Passaic-hillel 0.5 mi Private PRESCHOOL-8 0 0
      Noble Leadership Academy 0.5 mi Private PRESCHOOL-10 0 0
      Number 6 Martin L King 0.5 mi Public PRESCHOOL-6 1 0
      St. Anthony Of Padua School 0.6 mi Catholic 3-8 0 3
      Number 15 vincent Capuana 0.6 mi Public K-K 0 5
      Number 1, Thomas Jefferson Elementary School 0.6 mi Public 1-6 1 4
      Number 3 Mario J Drago 0.7 mi Public PRESCHOOL-6 1 4
      Number 2 Elementary School 0.8 mi Public K-2 0 0
      Number 5 Middle School 0.8 mi Public 3-5 1 4
      Number 7, Grant Elementary School 0.8 mi Public PRESCHOOL-2 0 0
      Etta Gero No 9 Elementary School 0.8 mi Public 4-6 0 0
      Essex High School 0.9 mi Public 9-12 0 0
      Hope Academy 0.9 mi Public 9-12 0 0
      The Park School 0.9 mi Public 9-12 0 0
      Number 8, Pulaski Elementary School 0.9 mi Public K-5 1 0
      Number 10, Roosevelt Elementary School 1.0 mi Public K-4 2 4
      Number 19 Daniel F Ryan 1.0 mi Public PRESCHOOL-5 1 3
      Passaic Catholic Regional School 1.0 mi Catholic PRESCHOOL-8 0 0
      Mesivta Tiferes Rav Zvi Aryeh Zemel 1.1 mi Private 9-12 0 0
      Number 17 1.2 mi Public PRESCHOOL-PRESCHOOL 0 2
      Yeshiva Ktana Of Passaic Boys 1.2 mi Private PRESCHOOL-8 0 5
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2015
      Local Weather for 07055 (Passaic, NJ)
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.