Is 08033, 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, 08033 has remained a Buyer's Market.
Key Takeaway
08033 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 08033, NJ
How much do homes in 08033, NJ cost?
Median Sold Price
$695,000
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08033 have sold for 15.8% more than they did a year ago.
Summary: The median home sold price in 08033 was $695,000 in March 2024, up 15.8% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $429.2K | $270K | -37.1% |
| 2 Bedrooms | $335K | $345K | +3.0% |
| 3 Bedrooms | $517.9K | $552K | +6.6% |
| 4 Bedrooms | $755K | $815K | +7.9% |
| 5+ Bedrooms | $1.0M | $1.2M | +19.8% |
Summary: 08033 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37.1%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 19.8%.
Housing Supply in 08033, NJ
How many homes are available in 08033, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 85 | 86 | +1.2% |
Summary: The 08033 real estate market had 86 homes for sale in March 2024, a 1.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 18 | 16 | -11.1% |
| 4 Bedrooms | 31 | 32 | +3.2% |
| 5+ Bedrooms | 27 | 32 | +18.5% |
Summary: The 08033 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 40%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 18.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08033, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 08033 in March 2024, down by 36.4% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for 08033, NJ
How long does it take to sell a home in 08033, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 49 Days | +17.0% |
Summary: Homes in 08033 had an average of 49 days on market in Mar 2024, up by 17% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08033 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in 08033; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
