Is 08060, 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, 08060 was a Neutral Market.
Key Takeaway
08060 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 08060, NJ
How much do homes in 08060, NJ cost?
Median Sold Price
$365,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08060 have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in 08060 was $365,000 in March 2024, up 4.3% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $147K | -2.0% |
| 2 Bedrooms | $250K | $249.9K | 0% |
| 3 Bedrooms | $351.4K | $365K | +3.8% |
| 4 Bedrooms | $390K | $420K | +7.7% |
| 5+ Bedrooms | $345K | $374.9K | +8.7% |
Summary: 08060 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes did not change, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 8.7%.
Housing Supply in 08060, NJ
How many homes are available in 08060, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 129 | 126 | -2.3% |
Summary: The 08060 real estate market had 126 homes for sale in March 2024, a 2.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 26 | 21 | -19.2% |
| 3 Bedrooms | 72 | 74 | +2.8% |
| 4 Bedrooms | 24 | 24 | 0.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 08060 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 19.2%, 3 bedroom homes increased by 2.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 16 | -5.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08060, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in 08060 in March 2024, down by 5.9% month-over-month. Of the 16 sold homes, 13% were sold under asking, 19% were sold at asking, and 69% were sold over asking.
Days on Market for 08060, NJ
How long does it take to sell a home in 08060, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 21 Days | -46.1% |
Summary: Homes in 08060 had an average of 21 days on market in Mar 2024, down by 46.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08060 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 16 homes were sold in 08060; 75% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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