Is 08002, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
| # BEDS | Jan 2022 | Jan 2023 | % |
|---|---|---|---|
| 1 Bedroom | $94K | $116.7K | +24.2% |
| 2 Bedrooms | $220K | $232.5K | +5.7% |
| 3 Bedrooms | $315K | $340K | +7.9% |
| 4 Bedrooms | $365K | $395K | +8.2% |
| 5+ Bedrooms | $351K | $460K | +31.1% |
How many homes are available in 08002, NJ?
Number of Homes For Sale
| Dec 2022 | Jan 2023 | % |
|---|---|---|
| 71 | 59 | -16.9% |
Homes For Sale By Bedroom Count
| # BEDS | Dec 2022 | Jan 2023 | % |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 15 | 13 | -13.3% |
| 3 Bedrooms | 26 | 20 | -23.1% |
| 4 Bedrooms | 23 | 22 | -4.3% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Number of Homes Sold
| Dec 2022 | Jan 2023 | % |
|---|---|---|
| 22 | 12 | -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
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 2022 | Jan 2023 | % |
|---|---|---|
| 26 Days | 22 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
Key Takeaway
Many homes in 08002 are selling fast, if you're buying plan to act quickly.
Information deemed reliable but not guaranteed. Copyright © 2023 Garden State Multiple Listing Service, L.L.C. All rights reserved.