Is 08091, 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, 08091 has remained a Seller's Market.
Key Takeaway
08091 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08091, NJ
How much do homes in 08091, NJ cost?
Median Sold Price
$337,999
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08091 have sold for 27.5% more than they did a year ago.
Summary: The median home sold price in 08091 was $337,999 in April 2024, up 27.5% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $198K | $270.5K | +36.6% |
| 3 Bedrooms | $270K | $340K | +25.9% |
| 4 Bedrooms | $315K | $343K | +8.9% |
| 5+ Bedrooms | $315K | $339.9K | +7.9% |
Summary: 08091 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 36.6%, 3 bedroom homes increased by 25.9%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 7.9%.
Housing Supply in 08091, NJ
How many homes are available in 08091, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 15 | -42.3% |
Summary: The 08091 real estate market had 15 homes for sale in April 2024, a 42.3% decrease 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 | 2 | 0 | -100.0% |
| 3 Bedrooms | 20 | 12 | -40.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 08091 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 100%, 3 bedroom homes decreased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 5 | -58.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08091, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 08091 in April 2024, down by 58.3% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for 08091, NJ
How long does it take to sell a home in 08091, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 8 Days | -67.2% |
Summary: Homes in 08091 had an average of 8 days on market in Apr 2024, down by 67.2% 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
Key Takeaway
Many homes in 08091 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 08091; 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.
