Is 08609, 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, 08609 was a Seller's Market.
Key Takeaway
08609 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 08609, NJ
How much do homes in 08609, NJ cost?
Median Sold Price
$148,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08609 have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in 08609 was $148,000 in March 2024, up 5.7% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $157.5K | N/A |
| 2 Bedrooms | $80K | $165K | +106.3% |
| 3 Bedrooms | $130K | $145K | +11.5% |
| 4 Bedrooms | $130K | $190K | +46.2% |
| 5+ Bedrooms | $170K | $150K | -11.8% |
Summary: 08609 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 106.3%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes decreased by 11.8%.
Housing Supply in 08609, NJ
How many homes are available in 08609, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 40 | -2.4% |
Summary: The 08609 real estate market had 40 homes for sale in March 2024, a 2.4% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 14 | 13 | -7.1% |
| 4 Bedrooms | 19 | 20 | +5.3% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The 08609 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 remained the same, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08609, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in 08609 in March 2024, up by 100.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for 08609, NJ
How long does it take to sell a home in 08609, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 33 Days | 45 Days | +37.9% |
Summary: Homes in 08609 had an average of 45 days on market in Mar 2024, up by 37.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 08609 has remained consistent over time.
Summary: During March 2024, 6 homes were sold in 08609; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
