Is 08221, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 08221 was a Seller's Market.
Key Takeaway
08221 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 08221, NJ
How much do homes in 08221, NJ cost?
Median Sold Price
$449,500
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08221 have sold for 18.8% more than they did a year ago.
Summary: The median home sold price in 08221 was $449,500 in April 2024, up 18.8% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $280K | $311K | +11.1% |
| 3 Bedrooms | $332K | $399.9K | +20.5% |
| 4 Bedrooms | $450K | $555K | +23.3% |
| 5+ Bedrooms | $722K | $725K | 0.4% |
Summary: 08221 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 11.1%, 3 bedroom homes increased by 20.5%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Zip Codes
| 08221 | $378.5K | $449.5K | +18.8% |
| 08244 | $349.5K | $385K | +10.2% |
| 08234 | $345K | $379.1K | +9.9% |
| 08225 | $320K | $336.7K | +5.2% |
Housing Supply in 08221, NJ
How many homes are available in 08221, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 45 | 51 | +13.3% |
Summary: The 08221 real estate market had 51 homes for sale in April 2024, a 13.3% 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 | 5 | 9 | +80.0% |
| 3 Bedrooms | 14 | 15 | +7.1% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 13 | 13 | 0.0% |
Summary: The 08221 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 increased by 80%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08221, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 08221 in April 2024, up by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 08221, NJ
How long does it take to sell a home in 08221, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 63 Days | +202.1% |
Summary: Homes in 08221 had an average of 63 days on market in Apr 2024, up by 202.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 08221 has remained consistent over time.
Summary: During April 2024, 9 homes were sold in 08221; 22% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved. 
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.