Is 08028, 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, 08028 has remained a Seller's Market.
Key Takeaway
08028 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08028, NJ
How much do homes in 08028, NJ cost?
Median Sold Price
$335,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08028 have sold for 19.6% more than they did a year ago.
Summary: The median home sold price in 08028 was $335,000 in April 2024, up 19.6% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $244K | $249.5K | +2.3% |
| 3 Bedrooms | $277.5K | $325K | +17.1% |
| 4 Bedrooms | $315K | $385K | +22.2% |
| 5+ Bedrooms | $355K | $384.9K | +8.4% |
Summary: 08028 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 2.3%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 8.4%.
Housing Supply in 08028, NJ
How many homes are available in 08028, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 | 82 | +15.5% |
Summary: The 08028 real estate market had 82 homes for sale in April 2024, a 15.5% 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 | 9 | 9 | 0.0% |
| 3 Bedrooms | 35 | 40 | +14.3% |
| 4 Bedrooms | 22 | 21 | -4.5% |
| 5+ Bedrooms | 5 | 12 | +140.0% |
Summary: The 08028 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 remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 140%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 19 | -9.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08028, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 08028 in April 2024, down by 9.5% month-over-month. Of the 19 sold homes, 42% were sold under asking, 32% were sold at asking, and 26% were sold over asking.
Days on Market for 08028, NJ
How long does it take to sell a home in 08028, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 71 Days | 26 Days | -63.0% |
Summary: Homes in 08028 had an average of 26 days on market in Apr 2024, down by 63% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08028 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 19 homes were sold in 08028; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.