Is 08056, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, 08056 was a Seller's Market.
Housing Prices in 08056, NJ
How much do homes in 08056, NJ cost?
Median Sold Price
$550,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in 08056 was $550,000 in May 2024, up 39.6% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $307.5K | $385.5K | +25.4% |
3 Bedrooms | $368.5K | $442K | +20.0% |
4 Bedrooms | $604K | $645K | +6.8% |
5+ Bedrooms | $705K | $685K | -2.8% |
Summary: 08056 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.4%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 2.8%.
Housing Supply in 08056, NJ
How many homes are available in 08056, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 14 | +55.6% |
Summary: The 08056 real estate market had 14 homes for sale in May 2024, a 55.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 2 | +100.0% |
3 Bedrooms | 3 | 3 | 0.0% |
4 Bedrooms | 4 | 7 | +75.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 08056 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 75%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in 08056 in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 08056, NJ
How long does it take to sell a home in 08056, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 66 Days | +275.0% |
Summary: Homes in 08056 had an average of 66 days on market in May 2024, up by 275% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in 08056; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.