Is 08003, 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, 08003 was a Seller's Market.
Key Takeaway
08003 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 08003, NJ
How much do homes in 08003, NJ cost?
Median Sold Price
$504,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08003 have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in 08003 was $504,000 in March 2024, up 16.3% 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 | $84.5K | $178K | +110.7% |
| 2 Bedrooms | $210K | $250K | +19.0% |
| 3 Bedrooms | $359K | $392.5K | +9.3% |
| 4 Bedrooms | $497.5K | $560K | +12.6% |
| 5+ Bedrooms | $635K | $630K | -0.8% |
Summary: 08003 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 110.7%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes decreased by 0.8%.
Housing Supply in 08003, NJ
How many homes are available in 08003, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 103 | 116 | +12.6% |
Summary: The 08003 real estate market had 116 homes for sale in March 2024, a 12.6% 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 | 14 | 10 | -28.6% |
| 3 Bedrooms | 31 | 36 | +16.1% |
| 4 Bedrooms | 45 | 51 | +13.3% |
| 5+ Bedrooms | 12 | 18 | +50.0% |
Summary: The 08003 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 decreased by 28.6%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 19 | -5.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08003, you could pay more than the asking price. 52.6% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in 08003 in March 2024, down by 5.0% month-over-month. Of the 19 sold homes, 32% were sold under asking, 16% were sold at asking, and 53% were sold over asking.
Days on Market for 08003, NJ
How long does it take to sell a home in 08003, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 18 Days | 31 Days | +72.1% |
Summary: Homes in 08003 had an average of 31 days on market in Mar 2024, up by 72.1% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08003 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 19 homes were sold in 08003; 74% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.