Is 08075, 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, 08075 has remained a Seller's Market.
Key Takeaway
08075 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08075, NJ
How much do homes in 08075, NJ cost?
Median Sold Price
$339,083
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08075 have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in 08075 was $339,083 in April 2024, up 12.5% 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 | - | $117.8K | N/A |
| 2 Bedrooms | $227K | $242K | +6.6% |
| 3 Bedrooms | $292K | $330K | +13.0% |
| 4 Bedrooms | $399K | $428K | +7.3% |
| 5+ Bedrooms | $420K | $485K | +15.5% |
Summary: 08075 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 6.6%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 15.5%.
Housing Supply in 08075, NJ
How many homes are available in 08075, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 74 | 94 | +27.0% |
Summary: The 08075 real estate market had 94 homes for sale in April 2024, a 27.0% 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 | 11 | 19 | +72.7% |
| 3 Bedrooms | 36 | 42 | +16.7% |
| 4 Bedrooms | 24 | 27 | +12.5% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The 08075 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 72.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 20 | -23.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08075, you could pay more than the asking price. 70% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in 08075 in April 2024, down by 23.1% month-over-month. Of the 20 sold homes, 15% were sold under asking, 15% were sold at asking, and 70% were sold over asking.
Days on Market for 08075, NJ
How long does it take to sell a home in 08075, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 22 Days | -33.0% |
Summary: Homes in 08075 had an average of 22 days on market in Apr 2024, down by 33% compared to last year.
Breakdown of Home Sale Times
15 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 08075 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 20 homes were sold in 08075; 75% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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