Is 08620, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 08620 has remained a Seller's Market.
Key Takeaway
08620 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08620, NJ
How much do homes in 08620, NJ cost?
Median Sold Price
$428,800
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08620 have sold for 12.1% more than they did a year ago.
Summary: The median home sold price in 08620 was $428,800 in March 2024, up 12.1% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $187.5K | $210K | +12.0% |
| 2 Bedrooms | $195K | $385K | +97.4% |
| 3 Bedrooms | $375K | $400K | +6.7% |
| 4 Bedrooms | $440K | $557.4K | +26.7% |
| 5+ Bedrooms | $665K | $600K | -9.8% |
Summary: 08620 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 97.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes decreased by 9.8%.
Housing Supply in 08620, NJ
How many homes are available in 08620, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 44 | 39 | -11.4% |
Summary: The 08620 real estate market had 39 homes for sale in March 2024, a 11.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 4 | +300.0% |
| 3 Bedrooms | 21 | 16 | -23.8% |
| 4 Bedrooms | 19 | 15 | -21.1% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 08620 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 300%, 3 bedroom homes decreased by 23.8%, 4 bedroom homes decreased by 21.1%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08620, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 08620 in March 2024, down by 22.2% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.
Days on Market for 08620, NJ
How long does it take to sell a home in 08620, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 28 Days | 34 Days | +24.0% |
Summary: Homes in 08620 had an average of 34 days on market in Mar 2024, up by 24% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 08620 has remained consistent over time.
Summary: During March 2024, 7 homes were sold in 08620; 43% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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