Is 08540, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 08540 was a Neutral Market.
Key Takeaway
08540 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 08540, NJ
How much do homes in 08540, NJ cost?
Median Sold Price
$765,888
$353/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08540 have sold for 16% more than they did a year ago.
Summary: The median home sold price in 08540 was $765,888 in March 2024, up 16% from last year, and the median price per square foot was $353.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $210K | +5.0% |
| 2 Bedrooms | $451.1K | $483K | +7.1% |
| 3 Bedrooms | $610K | $675K | +10.7% |
| 4 Bedrooms | $885K | $1.1M | +24.3% |
| 5+ Bedrooms | $1.7M | $1.8M | +9.5% |
Summary: 08540 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 24.3%, and 5+ bedroom homes increased by 9.5%.
Median Sold Price Compared To Nearby Zip Codes
| 08540 | $660K | $765.8K | +16.0% |
| 08542 | $902.5K | $992.4K | +10.0% |
| 08558 | $895K | $975K | +8.9% |
Housing Supply in 08540, NJ
How many homes are available in 08540, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 206 | 225 | +9.2% |
Summary: The 08540 real estate market had 225 homes for sale in March 2024, a 9.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 21 | +16.7% |
| 2 Bedrooms | 32 | 33 | +3.1% |
| 3 Bedrooms | 50 | 44 | -12.0% |
| 4 Bedrooms | 46 | 59 | +28.3% |
| 5+ Bedrooms | 60 | 68 | +13.3% |
Summary: The 08540 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 3.1%, 3 bedroom homes decreased by 12%, 4 bedroom homes increased by 28.3%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 26 | +18.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08540, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in 08540 in March 2024, up by 18.2% month-over-month. Of the 26 sold homes, 35% were sold under asking, 12% were sold at asking, and 54% were sold over asking.
Days on Market for 08540, NJ
How long does it take to sell a home in 08540, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 55 Days | 53 Days | -2.4% |
Summary: Homes in 08540 had an average of 53 days on market in Mar 2024, down by 2.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08540 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 26 homes were sold in 08540; 50% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.