Is 08093, 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, 08093 has remained a Seller's Market.
Key Takeaway
08093 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08093, NJ
How much do homes in 08093, NJ cost?
Median Sold Price
$250,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08093 have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in 08093 was $250,000 in April 2024, up 16.3% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $84.7K | $102.5K | +20.9% |
| 2 Bedrooms | $176.7K | $205K | +16.0% |
| 3 Bedrooms | $225K | $250K | +11.1% |
| 4 Bedrooms | $279K | $295K | +5.7% |
| 5+ Bedrooms | - | $365K | N/A |
Summary: 08093 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.9%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes did not change.
Housing Supply in 08093, NJ
How many homes are available in 08093, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 32 | -15.8% |
Summary: The 08093 real estate market had 32 homes for sale in April 2024, a 15.8% 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 | 6 | 5 | -16.7% |
| 3 Bedrooms | 19 | 16 | -15.8% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 08093 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 16.7%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08093, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 08093 in April 2024, down by 22.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for 08093, NJ
How long does it take to sell a home in 08093, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 12 Days | 37 Days | +195.5% |
Summary: Homes in 08093 had an average of 37 days on market in Apr 2024, up by 195.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08093 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in 08093; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
