Is 08043, 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, 08043 has remained a Seller's Market.
Key Takeaway
08043 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08043, NJ
How much do homes in 08043, NJ cost?
Median Sold Price
$409,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08043 have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in 08043 was $409,000 in April 2024, up 8.8% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $169.9K | +25.9% |
| 2 Bedrooms | $205K | $248K | +21.0% |
| 3 Bedrooms | $354.9K | $355K | 0.0% |
| 4 Bedrooms | $520K | $580K | +11.5% |
| 5+ Bedrooms | $675K | $687.5K | +1.9% |
Summary: 08043 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.9%, 2 bedroom homes increased by 21%, 3 bedroom homes did not change, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 1.9%.
Housing Supply in 08043, NJ
How many homes are available in 08043, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 78 | 92 | +17.9% |
Summary: The 08043 real estate market had 92 homes for sale in April 2024, a 17.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 18 | 19 | +5.6% |
| 3 Bedrooms | 22 | 23 | +4.5% |
| 4 Bedrooms | 28 | 36 | +28.6% |
| 5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The 08043 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 5.6%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 21 | +23.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08043, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in 08043 in April 2024, up by 23.5% month-over-month. Of the 20 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for 08043, NJ
How long does it take to sell a home in 08043, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 32 Days | -18.8% |
Summary: Homes in 08043 had an average of 32 days on market in Apr 2024, down by 18.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08043 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 21 homes were sold in 08043; 76% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
