Is 08518, 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, 08518 has remained a Buyer's Market.
Housing Prices in 08518, NJ
How much do homes in 08518, NJ cost?
Median Sold Price
$247,990
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08518 was $247,990 in April 2024, up 13.8% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $99.2K | $118K | +19.0% |
2 Bedrooms | $190K | $150K | -21.1% |
3 Bedrooms | $245.4K | $287.5K | +17.1% |
4 Bedrooms | $297.5K | $400K | +34.5% |
5+ Bedrooms | $250K | $245.9K | -1.6% |
Summary: 08518 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes decreased by 21.1%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 34.5%, and 5+ bedroom homes decreased by 1.6%.
Housing Supply in 08518, NJ
How many homes are available in 08518, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 21 | +16.7% |
Summary: The 08518 real estate market had 21 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 5 | 5 | 0.0% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 08518 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 2 | -75.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in 08518 in April 2024, down by 75.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 08518, NJ
How long does it take to sell a home in 08518, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
13 Days | 28 Days | +119.2% |
Summary: Homes in 08518 had an average of 28 days on market in Apr 2024, up by 119.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 2 homes were sold in 08518; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.