ZIP 07040 Housing Market Report
New York Metro
Report period: August 2026
07040 Monthly Market Update – August 2026
ZIP 07040 · Last updated Aug 10, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$799,000
−3.2%
Median DOM (Sales)
21
0.0%
New Listings (Sales)
9
−59.1%
Median Rent
$2,750
−1.8%
Median DOM (Rental)
31
−31.1%
Total Rental Listings
66
−1.5%
Month-over-Month Movement
Median sale prices eased compared to last month. Rents softened. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (15 DOM)
- Fastest renting: Single Family (21 DOM)
- Strongest bedroom: 5 Beds ($1,149,000 median)
Sales Market Overview
Median Price
$799,000
−3.2%
Median DOM
21
0.0%
New Listings
9
−59.1%
Inventory
87
−4.4%
- Average Price: $839,149
- Median Price: $799,000
- Price Range: $259,900 – $1,975,000
- Price per Sq Ft (Avg/Median): $347 / $363
- Square Footage (Avg/Median): 3,917 / 2,188
- Square Footage Range: 812 – 19,998
- Days on Market (Avg/Median): 41 / 21
- Days on Market Range: 1 – 357
- New Listings: 9
- Total Listings: 87
Sales by Property Type
Condo
Avg/Median Price$385,107 / $330,000Range$259,900 – $725,000Price per Sq Ft$349 / $357Sq Ft1,374 / 1,310DOM55 / 48New2Total15
Multi-Family
Avg/Median Price$843,340 / $825,000Range$525,000 – $1,500,000Price per Sq Ft$206 / $275Sq Ft9,555 / 2,854DOM79 / 46New2Total20
Single Family
Avg/Median Price$1,003,617 / $850,000Range$385,000 – $1,975,000Price per Sq Ft$416 / $403Sq Ft2,172 / 1,800DOM19 / 15New4Total48
Townhouse
Avg/Median Price$547,250 / $299,000Range$279,999 – $1,060,000Price per Sq Ft$345 / $345Sq Ft812 / 812DOM58 / 43New1Total4
Sales by Bedroom Count
1 Beds
Avg:$278,371Median:$279,999Range:$259,900 – $289,900PSF:$351 / $345Sq Ft:812 / 812DOM:83 / 108New:0Total:7
2 Beds
Avg:$415,778Median:$330,000Range:$299,000 – $725,000PSF:$345 / $327Sq Ft:1,655 / 1,310DOM:31 / 15New:3Total:9
3 Beds
Avg:$694,779Median:$650,000Range:$385,000 – $1,060,000PSF:$406 / $403Sq Ft:1,613 / 1,580DOM:27 / 19New:3Total:24
4 Beds
Avg:$939,411Median:$889,000Range:$499,000 – $1,550,000PSF:$485 / $469Sq Ft:2,528 / 2,494DOM:16 / 15New:1Total:19
5 Beds
Avg:$1,248,857Median:$1,149,000Range:$525,000 – $1,975,000PSF:$268 / $346Sq Ft:8,618 / 3,456DOM:43 / 15New:1Total:14
6 Beds
Avg:$1,102,325Median:$850,000Range:$599,500 – $1,825,000PSF:$278 / $303Sq Ft:6,916 / 2,736DOM:89 / 62New:0Total:12
7 Beds
Avg:$1,040,000Median:$785,000Range:$785,000 – $1,295,000PSF:$275 / $275Sq Ft:2,854 / 2,854DOM:34 / 7New:1Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $278,371 | $279,999 | $259,900 – $289,900 | $351 / $345 | 812 / 812 | 83 / 108 | 0 | 7 |
| 2 Beds | $415,778 | $330,000 | $299,000 – $725,000 | $345 / $327 | 1,655 / 1,310 | 31 / 15 | 3 | 9 |
| 3 Beds | $694,779 | $650,000 | $385,000 – $1,060,000 | $406 / $403 | 1,613 / 1,580 | 27 / 19 | 3 | 24 |
| 4 Beds | $939,411 | $889,000 | $499,000 – $1,550,000 | $485 / $469 | 2,528 / 2,494 | 16 / 15 | 1 | 19 |
| 5 Beds | $1,248,857 | $1,149,000 | $525,000 – $1,975,000 | $268 / $346 | 8,618 / 3,456 | 43 / 15 | 1 | 14 |
| 6 Beds | $1,102,325 | $850,000 | $599,500 – $1,825,000 | $278 / $303 | 6,916 / 2,736 | 89 / 62 | 0 | 12 |
| 7 Beds | $1,040,000 | $785,000 | $785,000 – $1,295,000 | $275 / $275 | 2,854 / 2,854 | 34 / 7 | 1 | 2 |
Rental Market Overview
Median Rent
$2,750
−1.8%
Median DOM
31
−31.1%
New Listings
7
Inventory
66
−1.5%
- Average Rent: $3,099
- Median Rent: $2,750
- Rent Range: $1,500 – $8,000
- Rent per Sq Ft (Avg/Median): $3 / $3
- Square Footage (Avg/Median): 1,097 / 1,141
- Square Footage Range: 636 – 1,700
- Days on Market (Avg/Median): 66 / 31
- Days on Market Range: 1 – 336
- New Listings: 7
- Total Listings: 66
Rentals by Property Type
Apartment
$2,600
Median DOM: 31
Inventory: 10
MoM: −1.8%
Condo
$2,600
Median DOM: 25
Inventory: 6
MoM: −1.8%
Single Family
$3,400
Median DOM: 21
Inventory: 18
MoM: −1.8%
Townhouse
—
Median DOM: —
Inventory: —
MoM: −1.8%
Apartment
Avg/Median Rent$2,744 / $2,600Range$2,150 – $3,650Rent per Sq Ft$3 / $3Sq Ft852 / 730DOM107 / 31New1Total10
Condo
Avg/Median Rent$2,883 / $2,600Range$2,300 – $3,900Rent per Sq Ft$3 / $2Sq Ft1,365 / 1,330DOM65 / 25New1Total6
Multi-Family
Avg/Median Rent$2,741 / $2,700Range$1,500 – $4,900Rent per Sq Ft$3 / $3Sq Ft1,147 / 1,169DOM58 / 37New4Total32
Single Family
Avg/Median Rent$4,005 / $3,400Range$2,200 – $8,000Rent per Sq Ft$3 / $4Sq Ft1,137 / 1,150DOM58 / 21New1Total18
Rentals by Bedroom Count
1 Beds
Avg:$2,174Median:$2,150Range:$1,500 – $2,850PSF:$3 / $3Sq Ft:683 / 636DOM:90 / 51New:1Total:10
2 Beds
Avg:$2,942Median:$2,750Range:$2,100 – $4,600PSF:$3 / $3Sq Ft:1,152 / 1,150DOM:83 / 45New:6Total:28
3 Beds
Avg:$3,268Median:$2,900Range:$2,595 – $5,300PSF:$3 / $2Sq Ft:1,167 / 1,000DOM:42 / 28New:0Total:25
4 Beds
Avg:$6,875Median:$5,750Range:$5,750 – $8,000PSF:—Sq Ft:—DOM:35 / 13New:0Total:2
5 Beds
Avg:$5,000Median:$5,000Range:$5,000 – $5,000PSF:—Sq Ft:—DOM:11 / 11New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $2,174 | $2,150 | $1,500 – $2,850 | $3 / $3 | 683 / 636 | 90 / 51 | 1 | 10 |
| 2 Beds | $2,942 | $2,750 | $2,100 – $4,600 | $3 / $3 | 1,152 / 1,150 | 83 / 45 | 6 | 28 |
| 3 Beds | $3,268 | $2,900 | $2,595 – $5,300 | $3 / $2 | 1,167 / 1,000 | 42 / 28 | 0 | 25 |
| 4 Beds | $6,875 | $5,750 | $5,750 – $8,000 | — | — | 35 / 13 | 0 | 2 |
| 5 Beds | $5,000 | $5,000 | $5,000 – $5,000 | — | — | 11 / 11 | 0 | 1 |
6-Month Sales Trend
Mar 2026
Median Price:$879,000Median DOM:12New:31Total:65
Apr 2026
Median Price:$849,000Median DOM:14New:44Total:93
May 2026
Median Price:$869,000Median DOM:15New:35Total:109
Jun 2026
Median Price:$850,000Median DOM:15New:41Total:113
Jul 2026
Median Price:$825,000Median DOM:21New:22Total:91
Aug 2026
Median Price:$799,000Median DOM:21New:9Total:87
6-Month Rental Trend
Mar 2026
Median Rent:$3,100Median DOM:43New:27Total:83
Apr 2026
Median Rent:$3,100Median DOM:40New:22Total:85
May 2026
Median Rent:$2,999Median DOM:30New:26Total:83
Jun 2026
Median Rent:$2,800Median DOM:27New:21Total:80
Jul 2026
Median Rent:$2,800Median DOM:45New:17Total:67
Aug 2026
Median Rent:$2,750Median DOM:31New:7Total:66
Key Market Takeaways
Median sale prices softened this month while inventory compressed. Days on market were unchanged, signaling steady buyer activity. Rental pricing eased, while total rental inventory tightened.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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