Is 08560, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 08560 was a Neutral Market.
Key Takeaway
08560 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08560, NJ
How much do homes in 08560, NJ cost?
Median Sold Price
$515,000
$273/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08560 have sold for 12.2% less than they did a year ago.
Summary: The median home sold price in 08560 was $515,000 in April 2024, down 12.2% from last year, and the median price per square foot was $273.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $517.5K | N/A |
| 2 Bedrooms | $419K | $375K | -10.5% |
| 3 Bedrooms | $405K | $480K | +18.5% |
| 4 Bedrooms | $632.5K | $667.5K | +5.5% |
| 5+ Bedrooms | $940K | $800K | -14.9% |
Summary: 08560 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 decreased by 10.5%, 3 bedroom homes increased by 18.5%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes decreased by 14.9%.
Housing Supply in 08560, NJ
How many homes are available in 08560, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Summary: The 08560 real estate market had 18 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 | 5 | 4 | -20.0% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 08560 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 decreased by 20%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
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 08560, 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 08560 in April 2024, down by 42.9% month-over-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 08560, NJ
How long does it take to sell a home in 08560, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 64 Days | 36 Days | -43.6% |
Summary: Homes in 08560 had an average of 36 days on market in Apr 2024, down by 43.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08560 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 08560; 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.
