Is 08054, 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, 08054 has remained a Seller's Market.
Key Takeaway
08054 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08054, NJ
How much do homes in 08054, NJ cost?
Median Sold Price
$354,972
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08054 have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in 08054 was $354,972 in April 2024, up 9.2% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168.7K | $193K | +14.4% |
| 2 Bedrooms | $235K | $255.5K | +8.7% |
| 3 Bedrooms | $359.2K | $425K | +18.3% |
| 4 Bedrooms | $515K | $575K | +11.7% |
| 5+ Bedrooms | $760K | $685K | -9.9% |
Summary: 08054 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes decreased by 9.9%.
Housing Supply in 08054, NJ
How many homes are available in 08054, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 129 | 123 | -4.7% |
Summary: The 08054 real estate market had 123 homes for sale in April 2024, a 4.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 10 | +100.0% |
| 2 Bedrooms | 61 | 49 | -19.7% |
| 3 Bedrooms | 36 | 29 | -19.4% |
| 4 Bedrooms | 24 | 30 | +25.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 08054 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 19.7%, 3 bedroom homes decreased by 19.4%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 49 | 34 | -30.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08054, you could pay more than the asking price. 70.6% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in 08054 in April 2024, down by 30.6% month-over-month. Of the 34 sold homes, 21% were sold under asking, 9% were sold at asking, and 71% were sold over asking.
Days on Market for 08054, NJ
How long does it take to sell a home in 08054, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 25 Days | 14 Days | -43.3% |
Summary: Homes in 08054 had an average of 14 days on market in Apr 2024, down by 43.3% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08054 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 34 homes were sold in 08054; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
