Is 08059, 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, 08059 was a Seller's Market.
Key Takeaway
08059 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 08059, NJ
How much do homes in 08059, NJ cost?
Median Sold Price
$287,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08059 have sold for 16.2% more than they did a year ago.
Summary: The median home sold price in 08059 was $287,000 in April 2024, up 16.2% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $185K | $236.7K | +28.0% |
| 3 Bedrooms | $260.7K | $295K | +13.1% |
| 4 Bedrooms | $300K | $325K | +8.3% |
| 5+ Bedrooms | - | $265K | N/A |
Summary: 08059 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 28%, 3 bedroom homes increased by 13.1%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes did not change.
Housing Supply in 08059, NJ
How many homes are available in 08059, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 13 | -13.3% |
Summary: The 08059 real estate market had 13 homes for sale in April 2024, a 13.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 08059 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 increased by 50%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 2 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 08059, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in 08059 in April 2024, down by 75.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for 08059, NJ
How long does it take to sell a home in 08059, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 48 Days | +45.9% |
Summary: Homes in 08059 had an average of 48 days on market in Apr 2024, up by 45.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08059 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 08059; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
