Is 08057, 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, 08057 was a Neutral Market.
Key Takeaway
08057 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 08057, NJ
How much do homes in 08057, NJ cost?
Median Sold Price
$592,940
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08057 have sold for 0.8% less than they did a year ago.
Summary: The median home sold price in 08057 was $592,940 in March 2024, down 0.8% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $300K | $340K | +13.3% |
| 3 Bedrooms | $475K | $516K | +8.6% |
| 4 Bedrooms | $730K | $689.9K | -5.5% |
| 5+ Bedrooms | $1.1M | $1.0M | -14.6% |
Summary: 08057 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 13.3%, 3 bedroom homes increased by 8.6%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes decreased by 14.6%.
Housing Supply in 08057, NJ
How many homes are available in 08057, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 147 | 144 | -2.0% |
Summary: The 08057 real estate market had 144 homes for sale in March 2024, a 2.0% 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 | 12 | 12 | 0.0% |
| 3 Bedrooms | 46 | 44 | -4.3% |
| 4 Bedrooms | 47 | 48 | +2.1% |
| 5+ Bedrooms | 42 | 40 | -4.8% |
Summary: The 08057 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 4.3%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 4.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 18 | +63.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08057, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 08057 in March 2024, up by 63.6% month-over-month. Of the 18 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.
Days on Market for 08057, NJ
How long does it take to sell a home in 08057, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 64 Days | 69 Days | +7.5% |
Summary: Homes in 08057 had an average of 69 days on market in Mar 2024, up by 7.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08057 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 18 homes were sold in 08057; 56% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.