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.
Key Takeaway
08638 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
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
Key Takeaway
Homes in 08638 have sold for 5.6% more than they did a year ago.
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
Key Takeaway
If you're buying a home in 08638, you may be able to get a good deal. 50% of homes here sold below asking price last month.
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
Key Takeaway
Many homes in 08638 are selling fast, if you're buying plan to act quickly.
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.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. 
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.