Is 08223, 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, 08223 has remained a Seller's Market.
Key Takeaway
08223 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08223, NJ
How much do homes in 08223, NJ cost?
Median Sold Price
$413,500
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08223 have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in 08223 was $413,500 in April 2024, up 1.5% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229.9K | $145K | -36.9% |
| 2 Bedrooms | $317.5K | $200K | -37.0% |
| 3 Bedrooms | $399.7K | $412K | +3.1% |
| 4 Bedrooms | $550K | $500K | -9.1% |
| 5+ Bedrooms | $295K | $832.5K | +182.2% |
Summary: 08223 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.9%, 2 bedroom homes decreased by 37%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 182.2%.
Median Sold Price Compared To Nearby Zip Codes
| 08230 | $394.9K | $479K | +21.3% |
| 08244 | $349.5K | $385K | +10.2% |
| 08226 | $949.9K | $979K | +3.1% |
| 08223 | $407.4K | $413.5K | +1.5% |
| 08270 | $330K | $328K | -0.6% |
Housing Supply in 08223, NJ
How many homes are available in 08223, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 15 | -28.6% |
Summary: The 08223 real estate market had 15 homes for sale in April 2024, a 28.6% decrease 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 7 | 3 | -57.1% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 08223 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 25%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 08223, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in 08223 in April 2024, down by 28.6% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for 08223, NJ
How long does it take to sell a home in 08223, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 64 Days | 29 Days | -54.1% |
Summary: Homes in 08223 had an average of 29 days on market in Apr 2024, down by 54.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08223 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 08223; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% 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.