Real Estate Market Update for 07438 (Oak Ridge, NJ)
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was down 35% from one year earlier, and up 19% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was just over 290-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 63%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was 280-thousand dollars. The number of units sold increased 125% year-over-year, and increased more than 300% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. 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.
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Map Information for 07438 (Oak Ridge, NJ)
Area Information for 07438 (Oak Ridge, NJ)
  • Population: 11,537
  • Median Age: 40.93 yr
  • Median Commute Time: 35.33 mins
  • Educational Climate*: 5
  • Sales Tax: 7%
  • Population Density: 420/sq mi
  • Population Change Since 2000: 1.14%
  • Closest Airport: Newark Liberty International
  • Closest College: Rabbinical College Of America
  • Closest Jr. College: County College Of Morris
  • Median Household Income: $97,079
  • Annual Residential Turnover: 8.92%
  • Median Years in Residence: 3.71 yr
  • Closest Major Sports Team: New Jersey Devils
  • Change Avg. Household Income Since 2000: 28%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 07438 (Oak Ridge, NJ)
Median Age: 40.93 Married: 40% Number of Households: 4,159 Households with Children: 1,654
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 07438 (Oak Ridge, NJ)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      White Rock Elementary 0.2 mi Public 3-5 4 4
      Alpine Montessori Oakridge 0.4 mi Private PRESCHOOL-K 0 0
      Great Horizon 0.4 mi Private PRESCHOOL-5 0 0
      Milton Elementary School 0.7 mi Public PRESCHOOL-K 0 0
      Cozy Lake Elementary 1.3 mi Public 1-2 0 5
      Quality Time Inc 1.9 mi Private PRESCHOOL-5 0 0
      Jefferson Twp H 2.2 mi Public 9-12 3-5 3
      Paradise Knoll 3.3 mi Public K-6 3-5 4
      Paradise Preschool 3.3 mi Private PRESCHOOL-PRESCHOOL 0 0
      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 07438 (Oak Ridge, 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.