Is 08049, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 08049 was a Seller's Market.
Key Takeaway
08049 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 08049, NJ
How much do homes in 08049, NJ cost?
Median Sold Price
$280,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08049 have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in 08049 was $280,000 in April 2024, up 7.5% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $260K | $270K | +3.8% |
| 3 Bedrooms | $262.2K | $280K | +6.8% |
| 4 Bedrooms | $251K | $325K | +29.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: 08049 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 29.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 08083 | $260K | $300K | +15.4% |
| 08007 | $279K | $320K | +14.7% |
| 08029 | $273K | $297K | +8.8% |
| 08049 | $260.5K | $280K | +7.5% |
| 08045 | $280K | $296K | +5.7% |
Housing Supply in 08049, NJ
How many homes are available in 08049, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Summary: The 08049 real estate market had 14 homes for sale in April 2024, a 6.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08049 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 remained the same, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 08049, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in 08049 in April 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 08049, NJ
How long does it take to sell a home in 08049, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 35 Days | 4 Days | -88.6% |
Summary: Homes in 08049 had an average of 4 days on market in Apr 2024, down by 88.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08049 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 1 homes were sold in 08049; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
