Is 08071, 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, 08071 has remained a Seller's Market.
Housing Prices in 08071, NJ
How much do homes in 08071, NJ cost?
Median Sold Price
$317,500
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08071 was $317,500 in April 2024, up 21.8% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $147K | - | N/A |
2 Bedrooms | $192.5K | $229K | +19.0% |
3 Bedrooms | $260.7K | $320K | +22.7% |
4 Bedrooms | $326.5K | $358K | +9.6% |
5+ Bedrooms | $399.9K | $422.5K | +5.6% |
Summary: 08071 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 19%, 3 bedroom homes increased by 22.7%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 5.6%.
Housing Supply in 08071, NJ
How many homes are available in 08071, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 25 | +31.6% |
Summary: The 08071 real estate market had 25 homes for sale in April 2024, a 31.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 8 | 11 | +37.5% |
4 Bedrooms | 6 | 6 | 0.0% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 08071 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 37.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 5 | -28.6% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 08071 in April 2024, down by 28.6% month-over-month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for 08071, NJ
How long does it take to sell a home in 08071, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
8 Days | 9 Days | +18.3% |
Summary: Homes in 08071 had an average of 9 days on market in Apr 2024, up by 18.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in 08071; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.