Is 08087, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 08087 was a Neutral Market.
Key Takeaway
08087 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 08087, NJ
How much do homes in 08087, NJ cost?
Median Sold Price
$365,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08087 have sold for 7% more than they did a year ago.
Summary: The median home sold price in 08087 was $365,000 in March 2024, up 7% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $142K | +29.1% |
| 2 Bedrooms | $261.6K | $260K | -0.6% |
| 3 Bedrooms | $355K | $380.7K | +7.3% |
| 4 Bedrooms | $449K | $490K | +9.1% |
| 5+ Bedrooms | $532.9K | $550K | +3.2% |
Summary: 08087 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.1%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 3.2%.
Housing Supply in 08087, NJ
How many homes are available in 08087, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 301 | 312 | +3.7% |
Summary: The 08087 real estate market had 312 homes for sale in March 2024, a 3.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 73 | 81 | +11.0% |
| 3 Bedrooms | 139 | 143 | +2.9% |
| 4 Bedrooms | 72 | 69 | -4.2% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The 08087 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 32 | -3.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08087, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in 08087 in March 2024, down by 3.0% month-over-month. Of the 32 sold homes, 44% were sold under asking, 34% were sold at asking, and 22% were sold over asking.
Days on Market for 08087, NJ
How long does it take to sell a home in 08087, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 41 Days | 50 Days | +21.3% |
Summary: Homes in 08087 had an average of 50 days on market in Mar 2024, up by 21.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08087 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 32 homes were sold in 08087; 50% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 16% 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 Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
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. 
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.