Is 08034, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08034 is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, 08034 has remained a Seller's Market.

Key Takeaway

08034 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 08034, NJ cost?

Median Sold Price

$365,000

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$25,000(+7.4%)

Key Takeaway

Homes in 08034 have sold for 7.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $110.1K$106.5K
-3.3%
2 $194.9K$247K
+26.7%
3 $328K$352.5K
+7.5%
4 $365K$446K
+22.2%
5+ $480K$454.5K
-5.3%

Median Sold Price Compared To Nearby Zip Codes

08033
+30.2%
08003
+14.4%
08052
+8.9%
08034
+7.4%
08002
+7.0%

How many homes are available in 08034, NJ?

Number of Homes For Sale

Sep 2022Oct 2022%
7563-16.0%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 00
0.0%
2 1713
-23.5%
3 3325
-24.2%
4 2423
-4.2%
5+ 12
+100.0%

Number of Homes Sold

Sep 2022Oct 2022%
2820-28.6%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08034, you could pay more than the asking price. 40% of homes here sold above asking price last month.

Average Sale Time

Oct 2021Oct 2022%
33 Days37 Days+12.1%

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08034 are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About 08034, NJ

Number of homes for sale in 08034, NJ real estate market have reached 63. The number of homes for sale in 08034, NJ decreased by 16% between September 2022 and October 2022. In October 2022 median list price was $365,000 and the average listing age was 37 days. This housing market listing prices have changed between September 2022 and October 2022: the cost of 1 bedroom properties went down by 3.3%, prices of 2 bedrooms properties increased by 26.7%, 3 bedrooms properties became 7.5% more expensive, the cost of 4 bedrooms properties went up by 22.2%, prices of 5 bedrooms properties decreased by 5.3%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes stayed the same, 2 bedrooms homes became 23.5% less available, the quantity of 3 bedrooms homes went down by 24.2%, 4 bedrooms homes became 4.2% less available, 5 bedrooms homes inventory increased by 100%. In October 2022 more than 8 listings in 08034, NJ were sold above the asking price. During the same period more than 6 listings were sold at asking price, while more than 6 were sold below.