Is 08031, 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, 08031 has remained a Seller's Market.
Housing Prices in 08031, NJ
How much do homes in 08031, NJ cost?
Median Sold Price
$280,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08031 was $280,000 in April 2024, up 9.8% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $160K | - | N/A |
2 Bedrooms | $225K | $223.5K | -0.7% |
3 Bedrooms | $260K | $280K | +7.7% |
4 Bedrooms | $272K | $315K | +15.8% |
5+ Bedrooms | $345K | $367.5K | +6.5% |
Summary: 08031 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 decreased by 0.7%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 6.5%.
Housing Supply in 08031, NJ
How many homes are available in 08031, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 25 | 0.0% |
Summary: The 08031 real estate market had 25 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 14 | 18 | +28.6% |
4 Bedrooms | 9 | 4 | -55.6% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08031 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 50%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 55.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 8 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in 08031 in April 2024, the same as the previous month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for 08031, NJ
How long does it take to sell a home in 08031, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 17 Days | -37.5% |
Summary: Homes in 08031 had an average of 17 days on market in Apr 2024, down by 37.5% compared to last year.
Breakdown of Home Sale Times
7 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, 8 homes were sold in 08031; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.