Is 08107, 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, 08107 has remained a Seller's Market.
Key Takeaway
08107 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08107, NJ
How much do homes in 08107, NJ cost?
Median Sold Price
$315,300
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08107 have sold for 31.4% more than they did a year ago.
Summary: The median home sold price in 08107 was $315,300 in April 2024, up 31.4% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $134K | +16.5% |
| 2 Bedrooms | $140K | $237K | +69.3% |
| 3 Bedrooms | $261.7K | $305.5K | +16.7% |
| 4 Bedrooms | $365K | $365K | 0.0% |
| 5+ Bedrooms | $290K | $475K | +63.8% |
Summary: 08107 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 69.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 63.8%.
Housing Supply in 08107, NJ
How many homes are available in 08107, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 48 | 53 | +10.4% |
Summary: The 08107 real estate market had 53 homes for sale in April 2024, a 10.4% increase 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 | 21 | 29 | +38.1% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The 08107 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 increased by 38.1%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 15 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08107, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in 08107 in April 2024, up by 50.0% month-over-month. Of the 15 sold homes, 27% were sold under asking, 7% were sold at asking, and 67% were sold over asking.
Days on Market for 08107, NJ
How long does it take to sell a home in 08107, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 15 Days | -51.0% |
Summary: Homes in 08107 had an average of 15 days on market in Apr 2024, down by 51% compared to last year.
Breakdown of Home Sale Times
13 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 08107 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in 08107; 87% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% 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.