Is 07848, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 07848 was a Neutral Market.
Key Takeaway
07848 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 07848, NJ
How much do homes in 07848, NJ cost?
Median Sold Price
$435,000
-
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 07848 have sold for 6.5% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $181.2K | $225K | +24.1% |
| 2 Bedrooms | $245K | $292.4K | +19.4% |
| 3 Bedrooms | $374.9K | $342.5K | -8.7% |
| 4 Bedrooms | $580.5K | $622.5K | +7.2% |
| 5+ Bedrooms | $780K | $670K | -14.1% |
Summary: 07848 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.1%, 2 bedroom homes increased by 19.4%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes decreased by 14.1%.
Housing Supply in 07848, NJ
How many homes are available in 07848, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Summary: The 07848 real estate market had 17 homes for sale in March 2024, a 30.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 6 | +200.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 07848 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 07848, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 07848 in March 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for 07848, NJ
We’re sorry, we don't have information for this market at the moment
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.