Is 08029, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 08029 was a Seller's Market.
Key Takeaway
08029 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 08029, NJ
How much do homes in 08029, NJ cost?
Median Sold Price
$297,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08029 have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in 08029 was $297,000 in April 2024, up 8.8% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $80K | 0.0% |
| 2 Bedrooms | $220K | $280K | +27.3% |
| 3 Bedrooms | $280K | $292.4K | +4.4% |
| 4 Bedrooms | $271K | $339K | +25.1% |
| 5+ Bedrooms | - | $277K | N/A |
Summary: 08029 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 27.3%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 25.1%, and 5+ bedroom homes did not change.
Housing Supply in 08029, NJ
How many homes are available in 08029, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 14 | +27.3% |
Summary: The 08029 real estate market had 14 homes for sale in April 2024, a 27.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08029 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 08029, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in 08029 in April 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for 08029, NJ
How long does it take to sell a home in 08029, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 15 Days | 2 Days | -83.3% |
Summary: Homes in 08029 had an average of 2 days on market in Apr 2024, down by 83.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08029 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 08029; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
