Is 08062, 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, 08062 has remained a Seller's Market.
Key Takeaway
08062 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08062, NJ
How much do homes in 08062, NJ cost?
Median Sold Price
$547,450
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08062 have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in 08062 was $547,450 in April 2024, up 6.6% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $217.4K | $312.5K | +43.7% |
| 3 Bedrooms | $360K | $430K | +19.4% |
| 4 Bedrooms | $607K | $667.9K | +10.0% |
| 5+ Bedrooms | $545K | $622.5K | +14.2% |
Summary: 08062 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 43.7%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 14.2%.
Housing Supply in 08062, NJ
How many homes are available in 08062, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 39 | 42 | +7.7% |
Summary: The 08062 real estate market had 42 homes for sale in April 2024, a 7.7% increase 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 21 | 24 | +14.3% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 08062 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 remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08062, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 08062 in April 2024, up by 100.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 38% were sold at asking, and 25% were sold over asking.
Days on Market for 08062, NJ
How long does it take to sell a home in 08062, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 26 Days | -33.1% |
Summary: Homes in 08062 had an average of 26 days on market in Apr 2024, down by 33.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08062 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in 08062; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
