Is 08005, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 08005 has remained a Seller's Market.
Housing Prices in 08005, NJ
How much do homes in 08005, NJ cost?
Median Sold Price
$435,180
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08005 was $435,180 in March 2024, up 1.2% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $177.5K | $102K | -42.5% |
2 Bedrooms | $399.9K | $364.2K | -8.9% |
3 Bedrooms | $404K | $455K | +12.6% |
4 Bedrooms | $517.4K | $500K | -3.4% |
5+ Bedrooms | $590K | $653.3K | +10.7% |
Summary: 08005 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42.5%, 2 bedroom homes decreased by 8.9%, 3 bedroom homes increased by 12.6%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 10.7%.
Housing Supply in 08005, NJ
How many homes are available in 08005, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
201 | 182 | -9.5% |
Summary: The 08005 real estate market had 182 homes for sale in March 2024, a 9.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 69 | 68 | -1.4% |
3 Bedrooms | 58 | 51 | -12.1% |
4 Bedrooms | 64 | 55 | -14.1% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The 08005 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes decreased by 12.1%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
35 | 40 | +14.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in 08005 in March 2024, up by 14.3% month-over-month. Of the 40 sold homes, 43% were sold under asking, 10% were sold at asking, and 48% were sold over asking.
Days on Market for 08005, NJ
How long does it take to sell a home in 08005, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 39 Days | +22.2% |
Summary: Homes in 08005 had an average of 39 days on market in Mar 2024, up by 22.2% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 40 homes were sold in 08005; 63% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.