Is 08008, 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, 08008 has remained a Buyer's Market.
Housing Prices in 08008, NJ
How much do homes in 08008, NJ cost?
Median Sold Price
$1,600,000
$860/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08008 was $1,600,000 in March 2024, up 2.3% from last year, and the median price per square foot was $860.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $462.5K | $450K | -2.7% |
2 Bedrooms | $752.5K | $751K | -0.2% |
3 Bedrooms | $1.1M | $1.1M | -0.3% |
4 Bedrooms | $1.6M | $1.6M | -3.4% |
5+ Bedrooms | $2.6M | $2.3M | -10.2% |
Summary: 08008 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.7%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes decreased by 10.2%.
Median Sold Price Compared To Nearby Zip Codes
08752 | $749.5K | $785K | +4.7% |
08008 | $1.5M | $1.6M | +2.3% |
Housing Supply in 08008, NJ
How many homes are available in 08008, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
358 | 378 | +5.6% |
Summary: The 08008 real estate market had 378 homes for sale in March 2024, a 5.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 9 | 0.0% |
2 Bedrooms | 22 | 20 | -9.1% |
3 Bedrooms | 57 | 62 | +8.8% |
4 Bedrooms | 105 | 112 | +6.7% |
5+ Bedrooms | 165 | 175 | +6.1% |
Summary: The 08008 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 9.1%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 6.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
21 | 37 | +76.2% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in 08008 in March 2024, up by 76.2% month-over-month. Of the 37 sold homes, 78% were sold under asking, 5% were sold at asking, and 16% were sold over asking.
Days on Market for 08008, NJ
How long does it take to sell a home in 08008, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
67 Days | 82 Days | +21.5% |
Summary: Homes in 08008 had an average of 82 days on market in Mar 2024, up by 21.5% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Summary: During March 2024, 37 homes were sold in 08008; 35% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 46% of homes were sold over 90 days.