Is 08092, 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, 08092 was a Buyer's Market.
Housing Prices in 08092, NJ
How much do homes in 08092, NJ cost?
Median Sold Price
$588,500
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08092 was $588,500 in March 2024, up 68.4% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190.5K | $134.1K | -29.6% |
2 Bedrooms | $245K | $290K | +18.4% |
3 Bedrooms | $370K | $450K | +21.6% |
4 Bedrooms | $552.5K | $640K | +15.8% |
5+ Bedrooms | $350K | $795K | +127.1% |
Summary: 08092 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.6%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 21.6%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 127.1%.
Housing Supply in 08092, NJ
How many homes are available in 08092, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 24 | +4.3% |
Summary: The 08092 real estate market had 24 homes for sale in March 2024, a 4.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 6 | 4 | -33.3% |
3 Bedrooms | 5 | 8 | +60.0% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The 08092 housing inventory by bedroom type for March 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 60%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 08092 in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for 08092, NJ
How long does it take to sell a home in 08092, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
64 Days | 62 Days | -2.5% |
Summary: Homes in 08092 had an average of 62 days on market in Mar 2024, down by 2.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in 08092; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.