Is 08251, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 08251 has remained a Seller's Market.
Key Takeaway
08251 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08251, NJ
How much do homes in 08251, NJ cost?
Median Sold Price
$395,000
$401/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 08251 have sold for 46.3% more than they did a month ago.
Summary: The median home sold price in 08251 was $395,000 in April 2024, up 46.3% from last month, and the median price per square foot was $401.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | - | N/A |
| 2 Bedrooms | $320K | $365K | +14.1% |
| 3 Bedrooms | $317.5K | $625K | +96.9% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 08251 housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 96.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 08251, NJ
How many homes are available in 08251, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 20 | 0.0% |
Summary: The 08251 real estate market had 20 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 08251 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 14.3%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08251, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 08251 in April 2024, up by 25.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 08251, NJ
How long does it take to sell a home in 08251, NJ?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 22 Days | -43.6% |
Summary: Homes in 08251 had an average of 22 days on market in Apr 2024, down by 43.6% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08251 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 08251; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% 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.