Is 08515, 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, 08515 has remained a Seller's Market.
Key Takeaway
08515 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08515, NJ
How much do homes in 08515, NJ cost?
Median Sold Price
$645,900
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08515 have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in 08515 was $645,900 in April 2024, up 1.7% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $315K | $323.8K | +2.8% |
| 3 Bedrooms | $441K | $460.5K | +4.4% |
| 4 Bedrooms | $670.5K | $697.5K | +4.0% |
| 5+ Bedrooms | $650K | $800K | +23.1% |
Summary: 08515 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 2.8%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 23.1%.
Housing Supply in 08515, NJ
How many homes are available in 08515, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 23 | 0.0% |
Summary: The 08515 real estate market had 23 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 | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 5 | +150.0% |
| 4 Bedrooms | 14 | 14 | 0.0% |
| 5+ Bedrooms | 7 | 4 | -42.9% |
Summary: The 08515 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 remained the same, 3 bedroom homes increased by 150%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 42.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
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 08515, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 08515 in April 2024, the same as the previous 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 08515, NJ
How long does it take to sell a home in 08515, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 8 Days | -82.6% |
Summary: Homes in 08515 had an average of 8 days on market in Apr 2024, down by 82.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08515 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 08515; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
