Is 08081, 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, 08081 has remained a Seller's Market.
Key Takeaway
08081 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08081, NJ
How much do homes in 08081, NJ cost?
Median Sold Price
$318,124
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08081 have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in 08081 was $318,124 in April 2024, up 2.6% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $132.5K | +15.2% |
| 2 Bedrooms | $157.5K | $181K | +14.9% |
| 3 Bedrooms | $294.9K | $280.2K | -5.0% |
| 4 Bedrooms | $410K | $449.9K | +9.7% |
| 5+ Bedrooms | $420K | $475K | +13.1% |
Summary: 08081 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 14.9%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 13.1%.
Housing Supply in 08081, NJ
How many homes are available in 08081, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 171 | 161 | -5.8% |
Summary: The 08081 real estate market had 161 homes for sale in April 2024, a 5.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 17 | 16 | -5.9% |
| 3 Bedrooms | 80 | 78 | -2.5% |
| 4 Bedrooms | 59 | 51 | -13.6% |
| 5+ Bedrooms | 13 | 12 | -7.7% |
Summary: The 08081 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 decreased by 5.9%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 33 | -23.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08081, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in 08081 in April 2024, down by 23.3% month-over-month. Of the 33 sold homes, 15% were sold under asking, 21% were sold at asking, and 64% were sold over asking.
Days on Market for 08081, NJ
How long does it take to sell a home in 08081, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 31 Days | +6.9% |
Summary: Homes in 08081 had an average of 31 days on market in Apr 2024, up by 6.9% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08081 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 33 homes were sold in 08081; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.