Is 08244, 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, 08244 has remained a Seller's Market.
Key Takeaway
08244 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08244, NJ
How much do homes in 08244, NJ cost?
Median Sold Price
$380,000
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08244 have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in 08244 was $380,000 in March 2024, up 10.8% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168.9K | $235K | +39.1% |
| 2 Bedrooms | $285K | $375K | +31.6% |
| 3 Bedrooms | $349.5K | $380K | +8.7% |
| 4 Bedrooms | $397.5K | $395K | -0.6% |
| 5+ Bedrooms | $497K | $399K | -19.7% |
Summary: 08244 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.1%, 2 bedroom homes increased by 31.6%, 3 bedroom homes increased by 8.7%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 19.7%.
Housing Supply in 08244, NJ
How many homes are available in 08244, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 49 | 57 | +16.3% |
Summary: The 08244 real estate market had 57 homes for sale in March 2024, a 16.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 28 | 30 | +7.1% |
| 4 Bedrooms | 7 | 12 | +71.4% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The 08244 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 71.4%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 18 | +157.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08244, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 08244 in March 2024, up by 157.1% month-over-month. Of the 16 sold homes, 56% were sold under asking, 6% were sold at asking, and 38% were sold over asking.
Days on Market for 08244, NJ
How long does it take to sell a home in 08244, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 37 Days | -24.7% |
Summary: Homes in 08244 had an average of 37 days on market in Mar 2024, down by 24.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08244 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 18 homes were sold in 08244; 61% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 11% 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.