Is 08104, 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, 08104 has remained a Seller's Market.
Key Takeaway
08104 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08104, NJ
How much do homes in 08104, NJ cost?
Median Sold Price
$110,000
$100/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08104 have sold for 37.7% more than they did a year ago.
Summary: The median home sold price in 08104 was $110,000 in April 2024, up 37.7% from last year, and the median price per square foot was $100.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $71K | $88K | +23.9% |
| 3 Bedrooms | $84.9K | $125K | +47.1% |
| 4 Bedrooms | $75K | $150K | +100.0% |
| 5+ Bedrooms | $90K | - | N/A |
Summary: 08104 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 23.9%, 3 bedroom homes increased by 47.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes did not change.
Housing Supply in 08104, NJ
How many homes are available in 08104, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 75 | 78 | +4.0% |
Summary: The 08104 real estate market had 78 homes for sale in April 2024, a 4.0% increase 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 | 25 | 20 | -20.0% |
| 3 Bedrooms | 48 | 54 | +12.5% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 08104 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 20%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 17 | -10.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08104, you could pay more than the asking price. 47.1% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in 08104 in April 2024, down by 10.5% month-over-month. Of the 17 sold homes, 29% were sold under asking, 24% were sold at asking, and 47% were sold over asking.
Days on Market for 08104, NJ
How long does it take to sell a home in 08104, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 45 Days | +22.4% |
Summary: Homes in 08104 had an average of 45 days on market in Apr 2024, up by 22.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08104 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 17 homes were sold in 08104; 59% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
