Is 08302, 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, 08302 has remained a Seller's Market.
Housing Prices in 08302, NJ
How much do homes in 08302, NJ cost?
Median Sold Price
$235,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08302 was $235,000 in April 2024, up 6.8% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $42.5K | $60K | +41.2% |
2 Bedrooms | $125K | $170K | +36.0% |
3 Bedrooms | $220K | $245K | +11.4% |
4 Bedrooms | $269K | $299.5K | +11.3% |
5+ Bedrooms | $403.5K | $241K | -40.3% |
Summary: 08302 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.2%, 2 bedroom homes increased by 36%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes decreased by 40.3%.
Housing Supply in 08302, NJ
How many homes are available in 08302, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
127 | 119 | -6.3% |
Summary: The 08302 real estate market had 119 homes for sale in April 2024, a 6.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 18 | 14 | -22.2% |
3 Bedrooms | 84 | 73 | -13.1% |
4 Bedrooms | 17 | 27 | +58.8% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 08302 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes decreased by 13.1%, 4 bedroom homes increased by 58.8%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 23 | -17.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in 08302 in April 2024, down by 17.9% month-over-month. Of the 23 sold homes, 35% were sold under asking, 30% were sold at asking, and 35% were sold over asking.
Days on Market for 08302, NJ
How long does it take to sell a home in 08302, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
74 Days | 51 Days | -30.2% |
Summary: Homes in 08302 had an average of 51 days on market in Apr 2024, down by 30.2% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 23 homes were sold in 08302; 43% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.