Is 08046, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 08046 was a Neutral Market.
Housing Prices in 08046, NJ
How much do homes in 08046, NJ cost?
Median Sold Price
$327,500
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08046 was $327,500 in March 2024, up 9.2% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $238K | N/A |
2 Bedrooms | $180K | $207K | +15.0% |
3 Bedrooms | $285K | $315K | +10.5% |
4 Bedrooms | $312.5K | $339.9K | +8.8% |
5+ Bedrooms | $381.5K | $390K | +2.2% |
Summary: 08046 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 2.2%.
Housing Supply in 08046, NJ
How many homes are available in 08046, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
221 | 218 | -1.4% |
Summary: The 08046 real estate market had 218 homes for sale in March 2024, a 1.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 86 | 77 | -10.5% |
4 Bedrooms | 105 | 112 | +6.7% |
5+ Bedrooms | 25 | 24 | -4.0% |
Summary: The 08046 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
32 | 31 | -3.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in 08046 in March 2024, down by 3.1% month-over-month. Of the 31 sold homes, 13% were sold under asking, 19% were sold at asking, and 68% were sold over asking.
Days on Market for 08046, NJ
How long does it take to sell a home in 08046, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
42 Days | 24 Days | -42.2% |
Summary: Homes in 08046 had an average of 24 days on market in Mar 2024, down by 42.2% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 31 homes were sold in 08046; 71% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.