Is 08691, 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, 08691 was a Neutral Market.
Housing Prices in 08691, NJ
How much do homes in 08691, NJ cost?
Median Sold Price
$551,000
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08691 was $551,000 in March 2024, up 30.3% from last year, and the median price per square foot was $290.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265K | $267.7K | +1.0% |
2 Bedrooms | $312.5K | $365K | +16.8% |
3 Bedrooms | $500K | $610K | +22.0% |
4 Bedrooms | $754.3K | $873.7K | +15.8% |
5+ Bedrooms | $1.1M | $970K | -18.8% |
Summary: 08691 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1%, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 22%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes decreased by 18.8%.
Housing Supply in 08691, NJ
How many homes are available in 08691, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
56 | 66 | +17.9% |
Summary: The 08691 real estate market had 66 homes for sale in March 2024, a 17.9% increase 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 | 15 | 19 | +26.7% |
3 Bedrooms | 13 | 15 | +15.4% |
4 Bedrooms | 17 | 22 | +29.4% |
5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The 08691 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 26.7%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 8 | -27.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in 08691 in March 2024, down by 27.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for 08691, NJ
How long does it take to sell a home in 08691, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
22 Days | 24 Days | +8.8% |
Summary: Homes in 08691 had an average of 24 days on market in Mar 2024, up by 8.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 8 homes were sold in 08691; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.