Is 08638, 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, 08638 was a Neutral Market.
Housing Prices in 08638, NJ
How much do homes in 08638, NJ cost?
Median Sold Price
$285,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08638 was $285,000 in March 2024, up 5.6% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $650K | $185K | -71.5% |
2 Bedrooms | $180K | $227.5K | +26.4% |
3 Bedrooms | $260K | $286.5K | +10.2% |
4 Bedrooms | $302.5K | $335K | +10.7% |
5+ Bedrooms | $181.8K | $335K | +84.2% |
Summary: 08638 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 71.5%, 2 bedroom homes increased by 26.4%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 84.2%.
Housing Supply in 08638, NJ
How many homes are available in 08638, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
107 | 113 | +5.6% |
Summary: The 08638 real estate market had 113 homes for sale in March 2024, a 5.6% 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 | 22 | 23 | +4.5% |
3 Bedrooms | 46 | 46 | 0.0% |
4 Bedrooms | 36 | 39 | +8.3% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 08638 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 4.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 12 | -20.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in 08638 in March 2024, down by 20.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 8% were sold at asking, and 42% were sold over asking.
Days on Market for 08638, NJ
How long does it take to sell a home in 08638, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
62 Days | 32 Days | -48.3% |
Summary: Homes in 08638 had an average of 32 days on market in Mar 2024, down by 48.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in 08638; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.