Is 08542, 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, 08542 was a Neutral Market.
Housing Prices in 08542, NJ
How much do homes in 08542, NJ cost?
Median Sold Price
$992,499
$549/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08542 was $992,499 in March 2024, up 10% from last year, and the median price per square foot was $549.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $425K | $770K | +81.2% |
2 Bedrooms | $1.4M | $850K | -39.3% |
3 Bedrooms | $850K | $1.1M | +30.9% |
4 Bedrooms | $1.4M | $1.3M | -5.9% |
5+ Bedrooms | $925K | $1.4M | +55.9% |
Summary: 08542 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 81.2%, 2 bedroom homes decreased by 39.3%, 3 bedroom homes increased by 30.9%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes increased by 55.9%.
Median Sold Price Compared To Nearby Zip Codes
08540 | $660K | $765.8K | +16.0% |
08542 | $902.5K | $992.4K | +10.0% |
Housing Supply in 08542, NJ
How many homes are available in 08542, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 19 | +11.8% |
Summary: The 08542 real estate market had 19 homes for sale in March 2024, a 11.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 5 | +25.0% |
3 Bedrooms | 6 | 6 | 0.0% |
4 Bedrooms | 6 | 7 | +16.7% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08542 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 1 homes were sold or pending in 08542 in March 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 08542, NJ
How long does it take to sell a home in 08542, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
62 Days | 14 Days | -77.5% |
Summary: Homes in 08542 had an average of 14 days on market in Mar 2024, down by 77.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 1 homes were sold in 08542; 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.