Is 08002, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08002 is a seller's market

Buyer's
Market

Difference Since January 2022

Since last year, 08002 has remained a Seller's Market.

Key Takeaway

08002 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 08002, NJ cost?

Median Sold Price

$350,000

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$22,000(+6.7%)

Key Takeaway

Homes in 08002 have sold for 6.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $94K$116.7K
+24.2%
2 $220K$232.5K
+5.7%
3 $315K$340K
+7.9%
4 $365K$395K
+8.2%
5+ $351K$460K
+31.1%

Median Sold Price Compared To Nearby Zip Codes

08052
+12.2%
08109
+11.0%
08108
+6.9%
08002
+6.7%
08034
+2.9%

How many homes are available in 08002, NJ?

Number of Homes For Sale

Dec 2022Jan 2023%
7159-16.9%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 31
-66.7%
2 1513
-13.3%
3 2620
-23.1%
4 2322
-4.3%
5+ 43
-25.0%

Number of Homes Sold

Dec 2022Jan 2023%
2212-45.5%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08002, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Average Sale Time

Jan 2022Jan 2023%
26 Days22 Days-13.7%

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08002 are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About 08002, NJ

08002, NJ has 59 homes on the market. The number of listings in 08002, NJ decreased by 16.9% between December 2022 and January 2023. The median list price of listings available in January 2023 was $350,000, while the average time on the real estate market was 22 days. Listing prices have changed in this real estate market between December 2022 and January 2023: prices of 1 bedroom properties increased by 24.2%, prices of 2 bedrooms properties increased by 5.7%, 3 bedrooms properties became 7.9% more expensive, prices of 4 bedrooms properties went up by 8.2%, 5 bedrooms properties prices increased by 31.1%. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes went down by 66.7%, volume of 2 bedrooms homes went down by 13.3%, the quantity of 3 bedrooms homes went down by 23.1%, 4 bedrooms homes became 4.3% less available, volume of 5 bedrooms homes went down by 25%. While more than 6 listings in 08002, NJ in January 2023 were sold above asking price, there were more than 2 listings sold at asking price, and more than 4 were sold below.