Is 08077, 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, 08077 has remained a Seller's Market.
Key Takeaway
08077 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08077, NJ
How much do homes in 08077, NJ cost?
Median Sold Price
$384,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08077 have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in 08077 was $384,000 in April 2024, up 6.7% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $172.5K | N/A |
| 2 Bedrooms | $225K | $252K | +12.0% |
| 3 Bedrooms | $350K | $353.9K | +1.1% |
| 4 Bedrooms | $435K | $482.5K | +10.9% |
| 5+ Bedrooms | $650K | $490K | -24.6% |
Summary: 08077 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 12%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes decreased by 24.6%.
Housing Supply in 08077, NJ
How many homes are available in 08077, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 60 | 57 | -5.0% |
Summary: The 08077 real estate market had 57 homes for sale in April 2024, a 5.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 6 | -33.3% |
| 3 Bedrooms | 24 | 27 | +12.5% |
| 4 Bedrooms | 24 | 20 | -16.7% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 08077 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 decreased by 33.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 14 | -17.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08077, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in 08077 in April 2024, down by 17.6% month-over-month. Of the 14 sold homes, 21% were sold under asking, 14% were sold at asking, and 64% were sold over asking.
Days on Market for 08077, NJ
How long does it take to sell a home in 08077, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 23 Days | -8.5% |
Summary: Homes in 08077 had an average of 23 days on market in Apr 2024, down by 8.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08077 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 14 homes were sold in 08077; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
