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.
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
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
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
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.