Is 08318, 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, 08318 has remained a Seller's Market.
Housing Prices in 08318, NJ
How much do homes in 08318, NJ cost?
Median Sold Price
$319,950
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08318 was $319,950 in April 2024, up 16.3% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $177K | $220K | +24.3% |
3 Bedrooms | $287K | $332.5K | +15.9% |
4 Bedrooms | $380K | $372.5K | -2.0% |
5+ Bedrooms | $310K | $434.5K | +40.2% |
Summary: 08318 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 24.3%, 3 bedroom homes increased by 15.9%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 40.2%.
Housing Supply in 08318, NJ
How many homes are available in 08318, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
34 | 35 | +2.9% |
Summary: The 08318 real estate market had 35 homes for sale in April 2024, a 2.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 20 | 24 | +20.0% |
4 Bedrooms | 7 | 6 | -14.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08318 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 28.6%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 9 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in 08318 in April 2024, the same as the previous month. Of the 9 sold homes, 44% were sold under asking, 33% were sold at asking, and 22% were sold over asking.
Days on Market for 08318, NJ
How long does it take to sell a home in 08318, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 89 Days | +150.6% |
Summary: Homes in 08318 had an average of 89 days on market in Apr 2024, up by 150.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in 08318; 44% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 44% of homes were sold over 90 days.