Is 08629, 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, 08629 was a Seller's Market.
Key Takeaway
08629 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 08629, NJ
How much do homes in 08629, NJ cost?
Median Sold Price
$245,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08629 have sold for 28.9% more than they did a year ago.
Summary: The median home sold price in 08629 was $245,000 in March 2024, up 28.9% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $164K | $200K | +22.0% |
| 3 Bedrooms | $186K | $236.3K | +27.0% |
| 4 Bedrooms | $200K | $260K | +30.0% |
| 5+ Bedrooms | $200K | $258.9K | +29.5% |
Summary: 08629 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 22%, 3 bedroom homes increased by 27%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 29.5%.
Housing Supply in 08629, NJ
How many homes are available in 08629, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 43 | 48 | +11.6% |
Summary: The 08629 real estate market had 48 homes for sale in March 2024, a 11.6% increase 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 | 10 | 11 | +10.0% |
| 3 Bedrooms | 22 | 23 | +4.5% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 08629 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 10%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08629, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 08629 in March 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% were sold over asking.
Days on Market for 08629, NJ
How long does it take to sell a home in 08629, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 45 Days | +26.5% |
Summary: Homes in 08629 had an average of 45 days on market in Mar 2024, up by 26.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08629 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 08629; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
