Is 08234, 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, 08234 has remained a Seller's Market.
Key Takeaway
08234 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08234, NJ
How much do homes in 08234, NJ cost?
Median Sold Price
$375,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08234 have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in 08234 was $375,000 in March 2024, up 10.3% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $119K | $129K | +8.4% |
| 2 Bedrooms | $170K | $185K | +8.8% |
| 3 Bedrooms | $285K | $340K | +19.3% |
| 4 Bedrooms | $430K | $446K | +3.7% |
| 5+ Bedrooms | $418K | $560.2K | +34.0% |
Summary: 08234 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.4%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 34%.
Median Sold Price Compared To Nearby Zip Codes
| 08221 | $377K | $424.8K | +12.7% |
| 08244 | $342.8K | $380K | +10.8% |
| 08234 | $340K | $375K | +10.3% |
| 08225 | $320.5K | $335K | +4.5% |
| 08223 | $420K | $413.5K | -1.5% |
Housing Supply in 08234, NJ
How many homes are available in 08234, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 147 | 157 | +6.8% |
Summary: The 08234 real estate market had 157 homes for sale in March 2024, a 6.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 1 | -83.3% |
| 2 Bedrooms | 21 | 26 | +23.8% |
| 3 Bedrooms | 54 | 60 | +11.1% |
| 4 Bedrooms | 51 | 54 | +5.9% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The 08234 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 83.3%, 2 bedroom homes increased by 23.8%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 37 | +37.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08234, you may be able to get a good deal. 43.3% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in 08234 in March 2024, up by 37.0% month-over-month. Of the 30 sold homes, 43% were sold under asking, 23% were sold at asking, and 33% were sold over asking.
Days on Market for 08234, NJ
How long does it take to sell a home in 08234, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 70 Days | 44 Days | -37.1% |
Summary: Homes in 08234 had an average of 44 days on market in Mar 2024, down by 37.1% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08234 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 37 homes were sold in 08234; 57% of homes were sold within 30 days, 22% 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.