Is 08002, 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, 08002 was a Seller's Market.
Housing Prices in 08002, NJ
How much do homes in 08002, NJ cost?
Median Sold Price
$377,500
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08002 was $377,500 in March 2024, up 7.9% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140.5K | $140K | -0.4% |
2 Bedrooms | $190K | $287.5K | +51.3% |
3 Bedrooms | $345K | $364K | +5.5% |
4 Bedrooms | $426K | $422.5K | -0.8% |
5+ Bedrooms | $452K | $530K | +17.3% |
Summary: 08002 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes increased by 51.3%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 17.3%.
Housing Supply in 08002, NJ
How many homes are available in 08002, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
83 | 88 | +6.0% |
Summary: The 08002 real estate market had 88 homes for sale in March 2024, a 6.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 21 | 25 | +19.0% |
3 Bedrooms | 39 | 38 | -2.6% |
4 Bedrooms | 20 | 22 | +10.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 08002 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 19%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 13 | -7.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 08002 in March 2024, down by 7.1% month-over-month. Of the 13 sold homes, 15% were sold under asking, 8% were sold at asking, and 77% were sold over asking.
Days on Market for 08002, NJ
How long does it take to sell a home in 08002, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 25 Days | -11.0% |
Summary: Homes in 08002 had an average of 25 days on market in Mar 2024, down by 11% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in 08002; 85% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.