Is 08225, 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, 08225 has remained a Seller's Market.
Housing Prices in 08225, NJ
How much do homes in 08225, NJ cost?
Median Sold Price
$336,750
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08225 was $336,750 in April 2024, up 5.2% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | $129.9K | +13.0% |
2 Bedrooms | $235K | $260K | +10.6% |
3 Bedrooms | $300K | $330K | +10.0% |
4 Bedrooms | $365K | $465K | +27.4% |
5+ Bedrooms | $427.5K | $540K | +26.3% |
Summary: 08225 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 27.4%, and 5+ bedroom homes increased by 26.3%.
Median Sold Price Compared To Nearby Zip Codes
08232 | $178.5K | $216.5K | +21.3% |
08221 | $378.5K | $449.5K | +18.8% |
08402 | $839.2K | $975K | +16.2% |
08225 | $320K | $336.7K | +5.2% |
Housing Supply in 08225, NJ
How many homes are available in 08225, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 26 | -21.2% |
Summary: The 08225 real estate market had 26 homes for sale in April 2024, a 21.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 3 | 4 | +33.3% |
3 Bedrooms | 17 | 11 | -35.3% |
4 Bedrooms | 11 | 10 | -9.1% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 08225 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 35.3%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 6 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in 08225 in April 2024, down by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 08225, NJ
How long does it take to sell a home in 08225, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
82 Days | 49 Days | -39.6% |
Summary: Homes in 08225 had an average of 49 days on market in Apr 2024, down by 39.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in 08225; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.