Is 08034, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, 08034 was a Seller's Market.
Housing Prices in 08034, NJ
How much do homes in 08034, NJ cost?
Median Sold Price
$400,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 08034 was $400,000 in February 2024, up 14.3% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $143.1K | +19.3% |
2 Bedrooms | $245K | $263K | +7.3% |
3 Bedrooms | $342K | $385.5K | +12.7% |
4 Bedrooms | $440K | $507.5K | +15.3% |
5+ Bedrooms | $562.5K | $451.5K | -19.7% |
Summary: 08034 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.3%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes decreased by 19.7%.
Housing Supply in 08034, NJ
How many homes are available in 08034, NJ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
52 | 65 | +25.0% |
Summary: The 08034 real estate market had 65 homes for sale in February 2024, a 25.0% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 13 | 14 | +7.7% |
3 Bedrooms | 18 | 22 | +22.2% |
4 Bedrooms | 15 | 21 | +40.0% |
5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The 08034 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
7 | 10 | +42.9% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in 08034 in February 2024, up by 42.9% month-over-month. Of the 10 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for 08034, NJ
How long does it take to sell a home in 08034, NJ?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
20 Days | 23 Days | +11.3% |
Summary: Homes in 08034 had an average of 23 days on market in Feb 2024, up by 11.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 10 homes were sold in 08034; 70% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.