Is 08022, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 08022 has remained a Seller's Market.
Housing Prices in 08022, NJ
How much do homes in 08022, NJ cost?
Median Sold Price
$361,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08022 was $361,000 in April 2024, down 12% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $306K | $325K | +6.2% |
3 Bedrooms | $420K | $384.9K | -8.3% |
4 Bedrooms | $680K | $615K | -9.6% |
5+ Bedrooms | $880K | $885K | +0.6% |
Summary: 08022 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.2%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 9.6%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Zip Codes
08505 | $349K | $375K | +7.4% |
08022 | $410K | $361K | -12.0% |
Housing Supply in 08022, NJ
How many homes are available in 08022, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
34 | 44 | +29.4% |
Summary: The 08022 real estate market had 44 homes for sale in April 2024, a 29.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 15 | 18 | +20.0% |
3 Bedrooms | 4 | 6 | +50.0% |
4 Bedrooms | 15 | 17 | +13.3% |
5+ Bedrooms | 0 | 3 | +100.0% |
Summary: The 08022 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 11 | +120.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 08022 in April 2024, up by 120.0% month-over-month. Of the 11 sold homes, 18% were sold under asking, 36% were sold at asking, and 45% were sold over asking.
Days on Market for 08022, NJ
How long does it take to sell a home in 08022, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
63 Days | 11 Days | -81.8% |
Summary: Homes in 08022 had an average of 11 days on market in Apr 2024, down by 81.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in 08022; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.