Is 08618, 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, 08618 was a Seller's Market.
Housing Prices in 08618, NJ
How much do homes in 08618, NJ cost?
Median Sold Price
$244,500
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08618 was $244,500 in March 2024, down 2.2% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $260K | $225K | -13.5% |
3 Bedrooms | $250K | $230K | -8.0% |
4 Bedrooms | $212.5K | $275K | +29.4% |
5+ Bedrooms | $295K | $282.5K | -4.2% |
Summary: 08618 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 decreased by 13.5%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes decreased by 4.2%.
Housing Supply in 08618, NJ
How many homes are available in 08618, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
170 | 168 | -1.2% |
Summary: The 08618 real estate market had 168 homes for sale in March 2024, a 1.2% 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 | 9 | 9 | 0.0% |
3 Bedrooms | 82 | 78 | -4.9% |
4 Bedrooms | 47 | 45 | -4.3% |
5+ Bedrooms | 31 | 35 | +12.9% |
Summary: The 08618 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 4.9%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 12.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 15 | -16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in 08618 in March 2024, down by 16.7% month-over-month. Of the 14 sold homes, 21% were sold under asking, 36% were sold at asking, and 43% were sold over asking.
Days on Market for 08618, NJ
How long does it take to sell a home in 08618, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 48 Days | +12.0% |
Summary: Homes in 08618 had an average of 48 days on market in Mar 2024, up by 12% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 15 homes were sold in 08618; 47% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.