Is 08520, 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, 08520 has remained a Seller's Market.
Housing Prices in 08520, NJ
How much do homes in 08520, NJ cost?
Median Sold Price
$406,250
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08520 was $406,250 in April 2024, up 2.4% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150.5K | $175K | +16.3% |
2 Bedrooms | $272K | $316.2K | +16.3% |
3 Bedrooms | $392.5K | $419.9K | +7.0% |
4 Bedrooms | $535.5K | $564.5K | +5.4% |
5+ Bedrooms | $705.5K | $700K | -0.8% |
Summary: 08520 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.3%, 2 bedroom homes increased by 16.3%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes decreased by 0.8%.
Housing Supply in 08520, NJ
How many homes are available in 08520, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
79 | 80 | +1.3% |
Summary: The 08520 real estate market had 80 homes for sale in April 2024, a 1.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 15 | 12 | -20.0% |
3 Bedrooms | 36 | 38 | +5.6% |
4 Bedrooms | 20 | 18 | -10.0% |
5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The 08520 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 15 | -31.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in 08520 in April 2024, down by 31.8% month-over-month. Of the 15 sold homes, 7% were sold under asking, 13% were sold at asking, and 80% were sold over asking.
Days on Market for 08520, NJ
How long does it take to sell a home in 08520, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
22 Days | 33 Days | +48.8% |
Summary: Homes in 08520 had an average of 33 days on market in Apr 2024, up by 48.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 15 homes were sold in 08520; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.