Is 08108, 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, 08108 was a Seller's Market.
Housing Prices in 08108, NJ
How much do homes in 08108, NJ cost?
Median Sold Price
$430,000
$273/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08108 was $430,000 in March 2024, up 8.9% from last year, and the median price per square foot was $273.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $322K | - | N/A |
2 Bedrooms | $316.5K | $331.7K | +4.8% |
3 Bedrooms | $367K | $400K | +9.0% |
4 Bedrooms | $525K | $550K | +4.8% |
5+ Bedrooms | $615K | $550K | -10.6% |
Summary: 08108 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 10.6%.
Housing Supply in 08108, NJ
How many homes are available in 08108, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
62 | 67 | +8.1% |
Summary: The 08108 real estate market had 67 homes for sale in March 2024, a 8.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 6 | +50.0% |
3 Bedrooms | 35 | 38 | +8.6% |
4 Bedrooms | 16 | 15 | -6.3% |
5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The 08108 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 increased by 50%, 3 bedroom homes increased by 8.6%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 10 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in 08108 in March 2024, the same as the previous month. Of the 10 sold homes, 30% were sold under asking, 20% were sold at asking, and 50% were sold over asking.
Days on Market for 08108, NJ
How long does it take to sell a home in 08108, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
23 Days | 7 Days | -66.8% |
Summary: Homes in 08108 had an average of 7 days on market in Mar 2024, down by 66.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 10 homes were sold in 08108; 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.