Is 08205, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 08205 has remained a Seller's Market.
Housing Prices in 08205, NJ
How much do homes in 08205, NJ cost?
Median Sold Price
$272,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08205 was $272,000 in March 2024, up 4.3% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $126K | $166.5K | +32.1% |
2 Bedrooms | $168K | $210K | +25.0% |
3 Bedrooms | $309.5K | $335K | +8.2% |
4 Bedrooms | $365K | $405K | +10.9% |
5+ Bedrooms | $437K | $475K | +8.7% |
Summary: 08205 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.1%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Zip Codes
08203 | $530K | $579.9K | +9.4% |
08205 | $260.7K | $272K | +4.3% |
08201 | $284K | $294K | +3.5% |
Housing Supply in 08205, NJ
How many homes are available in 08205, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
156 | 139 | -10.9% |
Summary: The 08205 real estate market had 139 homes for sale in March 2024, a 10.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 6 | 0.0% |
2 Bedrooms | 52 | 44 | -15.4% |
3 Bedrooms | 50 | 43 | -14.0% |
4 Bedrooms | 29 | 25 | -13.8% |
5+ Bedrooms | 19 | 21 | +10.5% |
Summary: The 08205 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 15.4%, 3 bedroom homes decreased by 14%, 4 bedroom homes decreased by 13.8%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 | 31 | -22.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in 08205 in March 2024, down by 22.5% month-over-month. Of the 23 sold homes, 52% were sold under asking, 13% were sold at asking, and 35% were sold over asking.
Days on Market for 08205, NJ
How long does it take to sell a home in 08205, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 32 Days | +5.8% |
Summary: Homes in 08205 had an average of 32 days on market in Mar 2024, up by 5.8% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 31 homes were sold in 08205; 65% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.