Is 08402, 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, 08402 has remained a Seller's Market.
Key Takeaway
08402 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08402, NJ
How much do homes in 08402, NJ cost?
Median Sold Price
$975,000
$533/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08402 have sold for 16.2% more than they did a year ago.
Summary: The median home sold price in 08402 was $975,000 in April 2024, up 16.2% from last year, and the median price per square foot was $533.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $345K | $345K | 0.0% |
| 2 Bedrooms | $450K | $539.2K | +19.8% |
| 3 Bedrooms | $782.5K | $875K | +11.8% |
| 4 Bedrooms | $1.0M | $1.0M | -2.9% |
| 5+ Bedrooms | $2.1M | $2.1M | +0.7% |
Summary: 08402 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 19.8%, 3 bedroom homes increased by 11.8%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes increased by 0.7%.
Housing Supply in 08402, NJ
How many homes are available in 08402, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 88 | 80 | -9.1% |
Summary: The 08402 real estate market had 80 homes for sale in April 2024, a 9.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 8 | -11.1% |
| 2 Bedrooms | 13 | 10 | -23.1% |
| 3 Bedrooms | 14 | 13 | -7.1% |
| 4 Bedrooms | 18 | 15 | -16.7% |
| 5+ Bedrooms | 34 | 34 | 0.0% |
Summary: The 08402 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes decreased by 23.1%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08402, you may be able to get a good deal. 93.3% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 08402 in April 2024, up by 5.3% month-over-month. Of the 15 sold homes, 93% were sold under asking, 7% were sold at asking, and 0% were sold over asking.
Days on Market for 08402, NJ
How long does it take to sell a home in 08402, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 48 Days | 53 Days | +10.4% |
Summary: Homes in 08402 had an average of 53 days on market in Apr 2024, up by 10.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08402 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 20 homes were sold in 08402; 65% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 20% 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. 
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.