Is 08037, 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, 08037 has remained a Seller's Market.
Key Takeaway
08037 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08037, NJ
How much do homes in 08037, NJ cost?
Median Sold Price
$332,500
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08037 have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in 08037 was $332,500 in April 2024, up 6.6% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $151K | $167K | +10.6% |
| 2 Bedrooms | $215K | $230K | +7.0% |
| 3 Bedrooms | $315K | $340K | +7.9% |
| 4 Bedrooms | $365K | $432.5K | +18.5% |
| 5+ Bedrooms | $425K | $395K | -7.1% |
Summary: 08037 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes decreased by 7.1%.
Housing Supply in 08037, NJ
How many homes are available in 08037, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 69 | 79 | +14.5% |
Summary: The 08037 real estate market had 79 homes for sale in April 2024, a 14.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 7 | 11 | +57.1% |
| 3 Bedrooms | 29 | 36 | +24.1% |
| 4 Bedrooms | 26 | 24 | -7.7% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 08037 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 24.1%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 21 | +23.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08037, you may be able to get a good deal. 68.4% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in 08037 in April 2024, up by 23.5% month-over-month. Of the 19 sold homes, 68% were sold under asking, 16% were sold at asking, and 16% were sold over asking.
Days on Market for 08037, NJ
How long does it take to sell a home in 08037, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 42 Days | +14.7% |
Summary: Homes in 08037 had an average of 42 days on market in Apr 2024, up by 14.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 08037 has remained consistent over time.
Summary: During April 2024, 21 homes were sold in 08037; 38% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.