ZIP 07040 Housing Market Report
New York Metro
Report period: May 2026
07040 Monthly Market Update – May 2026
ZIP 07040 · Last updated May 10, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$850,000
+0.1%
Median DOM (Sales)
14
0.0%
New Listings (Sales)
6
−86.4%
Median Rent
$3,000
−3.2%
Median DOM (Rental)
34
−15.0%
Total Rental Listings
90
+5.9%
Month-over-Month Movement
Median sale prices moved higher. Rents softened. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (11 DOM)
- Fastest renting: Single Family (5 DOM)
- Strongest bedroom: 5 Beds ($1,385,000 median)
Sales Market Overview
Median Price
$850,000
+0.1%
Median DOM
14
0.0%
New Listings
6
−86.4%
Inventory
99
+6.5%
- Average Price: $977,084
- Median Price: $850,000
- Price Range: $230,000 – $2,495,000
- Price per Sq Ft (Avg/Median): $373 / $357
- Square Footage (Avg/Median): 3,309 / 2,188
- Square Footage Range: 812 – 19,998
- Days on Market (Avg/Median): 31 / 14
- Days on Market Range: 4 – 332
- New Listings: 6
- Total Listings: 99
Sales by Property Type
Condo
Avg/Median Price$643,700 / $289,900Range$230,000 – $1,900,000Price per Sq Ft$447 / $357Sq Ft1,386 / 812DOM29 / 25New0Total12
Multi-Family
Avg/Median Price$847,323 / $849,000Range$599,000 – $1,500,000Price per Sq Ft$269 / $321Sq Ft5,499 / 2,736DOM58 / 33New1Total22
Single Family
Avg/Median Price$1,104,076 / $949,000Range$259,900 – $2,495,000Price per Sq Ft$493 / $433Sq Ft2,022 / 2,090DOM21 / 11New5Total63
Townhouse
Avg/Median Price$404,500 / $259,000Range$259,000 – $550,000Price per Sq Ft$319 / $319Sq Ft812 / 812DOM28 / 19New0Total2
Sales by Bedroom Count
1 Beds
Avg:$262,938Median:$259,900Range:$230,000 – $289,900PSF:$320 / $319Sq Ft:812 / 812DOM:36 / 40New:0Total:8
2 Beds
Avg:$549,617Median:$550,000Range:$364,900 – $829,000PSF:$390 / $390Sq Ft:1,410 / 1,410DOM:20 / 9New:0Total:6
3 Beds
Avg:$846,840Median:$799,000Range:$475,000 – $1,900,000PSF:$757 / $757Sq Ft:2,509 / 2,509DOM:16 / 12New:1Total:25
4 Beds
Avg:$1,075,646Median:$975,000Range:$649,000 – $1,795,000PSF:$493 / $433Sq Ft:2,022 / 2,090DOM:25 / 10New:4Total:26
5 Beds
Avg:$1,417,778Median:$1,385,000Range:$599,000 – $2,495,000PSF:$43 / $43Sq Ft:19,998 / 19,998DOM:37 / 15New:0Total:18
6 Beds
Avg:$1,051,553Median:$879,999Range:$599,000 – $2,495,000PSF:$307 / $321Sq Ft:3,082 / 2,688DOM:58 / 33New:1Total:15
7 Beds
Avg:$899,000Median:$899,000Range:$899,000 – $899,000PSF:—Sq Ft:—DOM:23 / 23New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $262,938 | $259,900 | $230,000 – $289,900 | $320 / $319 | 812 / 812 | 36 / 40 | 0 | 8 |
| 2 Beds | $549,617 | $550,000 | $364,900 – $829,000 | $390 / $390 | 1,410 / 1,410 | 20 / 9 | 0 | 6 |
| 3 Beds | $846,840 | $799,000 | $475,000 – $1,900,000 | $757 / $757 | 2,509 / 2,509 | 16 / 12 | 1 | 25 |
| 4 Beds | $1,075,646 | $975,000 | $649,000 – $1,795,000 | $493 / $433 | 2,022 / 2,090 | 25 / 10 | 4 | 26 |
| 5 Beds | $1,417,778 | $1,385,000 | $599,000 – $2,495,000 | $43 / $43 | 19,998 / 19,998 | 37 / 15 | 0 | 18 |
| 6 Beds | $1,051,553 | $879,999 | $599,000 – $2,495,000 | $307 / $321 | 3,082 / 2,688 | 58 / 33 | 1 | 15 |
| 7 Beds | $899,000 | $899,000 | $899,000 – $899,000 | — | — | 23 / 23 | 0 | 1 |
Rental Market Overview
Median Rent
$3,000
−3.2%
Median DOM
34
−15.0%
New Listings
15
Inventory
90
+5.9%
- Average Rent: $3,102
- Median Rent: $3,000
- Rent Range: $1,650 – $5,495
- Rent per Sq Ft (Avg/Median): $3 / $3
- Square Footage (Avg/Median): 1,436 / 1,162
- Square Footage Range: 640 – 3,729
- Days on Market (Avg/Median): 56 / 34
- Days on Market Range: 1 – 341
- New Listings: 15
- Total Listings: 90
Rentals by Property Type
Apartment
$2,900
Median DOM: 76
Inventory: 11
MoM: −3.2%
Condo
$2,800
Median DOM: 42
Inventory: 13
MoM: −3.2%
Single Family
$3,400
Median DOM: 5
Inventory: 28
MoM: −3.2%
Townhouse
—
Median DOM: —
Inventory: —
MoM: −3.2%
Apartment
Avg/Median Rent$2,720 / $2,900Range$1,750 – $3,650Rent per Sq Ft$2 / $3Sq Ft1,535 / 1,141DOM93 / 76New1Total11
Condo
Avg/Median Rent$2,977 / $2,800Range$1,850 – $5,495Rent per Sq Ft$3 / $3Sq Ft1,448 / 1,100DOM82 / 42New0Total13
Multi-Family
Avg/Median Rent$3,068 / $2,800Range$1,650 – $5,250Rent per Sq Ft$2 / $2Sq Ft2,071 / 1,800DOM60 / 36New4Total38
Single Family
Avg/Median Rent$3,356 / $3,400Range$1,800 – $4,795Rent per Sq Ft$3 / $4Sq Ft1,089 / 1,150DOM28 / 5New10Total28
Rentals by Bedroom Count
Studio
Avg:$1,750Median:$1,750Range:$1,750 – $1,750PSF:—Sq Ft:—DOM:107 / 107New:0Total:1
1 Beds
Avg:$2,256Median:$2,200Range:$1,650 – $3,195PSF:$3 / $3Sq Ft:1,508 / 830DOM:39 / 24New:3Total:19
2 Beds
Avg:$3,200Median:$3,100Range:$2,200 – $4,795PSF:$3 / $3Sq Ft:1,154 / 1,150DOM:73 / 58New:6Total:40
3 Beds
Avg:$3,152Median:$3,100Range:$2,400 – $4,600PSF:$2 / $2Sq Ft:1,498 / 1,368DOM:50 / 30New:4Total:21
4 Beds
Avg:$4,376Median:$4,500Range:$3,390 – $5,250PSF:$1 / $1Sq Ft:3,729 / 3,729DOM:17 / 12New:2Total:7
5 Beds
Avg:$4,848Median:$4,200Range:$4,200 – $5,495PSF:$2 / $2Sq Ft:2,900 / 2,900DOM:57 / 52New:0Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,750 | $1,750 | $1,750 – $1,750 | — | — | 107 / 107 | 0 | 1 |
| 1 Beds | $2,256 | $2,200 | $1,650 – $3,195 | $3 / $3 | 1,508 / 830 | 39 / 24 | 3 | 19 |
| 2 Beds | $3,200 | $3,100 | $2,200 – $4,795 | $3 / $3 | 1,154 / 1,150 | 73 / 58 | 6 | 40 |
| 3 Beds | $3,152 | $3,100 | $2,400 – $4,600 | $2 / $2 | 1,498 / 1,368 | 50 / 30 | 4 | 21 |
| 4 Beds | $4,376 | $4,500 | $3,390 – $5,250 | $1 / $1 | 3,729 / 3,729 | 17 / 12 | 2 | 7 |
| 5 Beds | $4,848 | $4,200 | $4,200 – $5,495 | $2 / $2 | 2,900 / 2,900 | 57 / 52 | 0 | 2 |
6-Month Sales Trend
Dec 2025
Median Price:$749,000Median DOM:25New:11Total:54
Jan 2026
Median Price:$699,999Median DOM:29New:22Total:52
Feb 2026
Median Price:$790,000Median DOM:28New:16Total:57
Mar 2026
Median Price:$879,000Median DOM:12New:31Total:65
Apr 2026
Median Price:$849,000Median DOM:14New:44Total:93
May 2026
Median Price:$850,000Median DOM:14New:6Total:99
6-Month Rental Trend
Dec 2025
Median Rent:$3,000Median DOM:70New:16Total:65
Jan 2026
Median Rent:$3,100Median DOM:40New:20Total:72
Feb 2026
Median Rent:$3,100Median DOM:46New:24Total:77
Mar 2026
Median Rent:$3,100Median DOM:43New:27Total:83
Apr 2026
Median Rent:$3,100Median DOM:40New:22Total:85
May 2026
Median Rent:$3,000Median DOM:34New:15Total:90
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market were unchanged, signaling steady buyer activity. Rental pricing eased, while total rental inventory increased.
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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