Is 08070, 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, 08070 was a Seller's Market.
Key Takeaway
08070 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 08070, NJ
How much do homes in 08070, NJ cost?
Median Sold Price
$255,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08070 have sold for 15.9% more than they did a year ago.
Summary: The median home sold price in 08070 was $255,000 in April 2024, up 15.9% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $158K | $194.5K | +23.1% |
| 3 Bedrooms | $218K | $255K | +17.0% |
| 4 Bedrooms | $252.5K | $280K | +10.9% |
| 5+ Bedrooms | $312.5K | $265K | -15.2% |
Summary: 08070 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 23.1%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes decreased by 15.2%.
Housing Supply in 08070, NJ
How many homes are available in 08070, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 51 | 50 | -2.0% |
Summary: The 08070 real estate market had 50 homes for sale in April 2024, a 2.0% 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 | 8 | 9 | +12.5% |
| 3 Bedrooms | 26 | 22 | -15.4% |
| 4 Bedrooms | 16 | 18 | +12.5% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 08070 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 12.5%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 6 | -66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08070, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 08070 in April 2024, down by 66.7% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 08070, NJ
How long does it take to sell a home in 08070, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 50 Days | 26 Days | -47.9% |
Summary: Homes in 08070 had an average of 26 days on market in Apr 2024, down by 47.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08070 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in 08070; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
