Is 08721, 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, 08721 has remained a Seller's Market.
Housing Prices in 08721, NJ
How much do homes in 08721, NJ cost?
Median Sold Price
$501,250
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08721 was $501,250 in March 2024, up 19.5% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $226K | - | N/A |
2 Bedrooms | $311K | $344.5K | +10.8% |
3 Bedrooms | $400K | $465K | +16.3% |
4 Bedrooms | $530K | $614.9K | +16.0% |
5+ Bedrooms | $650K | $600K | -7.7% |
Summary: 08721 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 10.8%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 16%, and 5+ bedroom homes decreased by 7.7%.
Housing Supply in 08721, NJ
How many homes are available in 08721, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
107 | 124 | +15.9% |
Summary: The 08721 real estate market had 124 homes for sale in March 2024, a 15.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 22 | 36 | +63.6% |
3 Bedrooms | 26 | 36 | +38.5% |
4 Bedrooms | 51 | 42 | -17.6% |
5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The 08721 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 63.6%, 3 bedroom homes increased by 38.5%, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 30 | +57.9% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in 08721 in March 2024, up by 57.9% month-over-month. Of the 30 sold homes, 47% were sold under asking, 10% were sold at asking, and 43% were sold over asking.
Days on Market for 08721, NJ
How long does it take to sell a home in 08721, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 39 Days | -5.5% |
Summary: Homes in 08721 had an average of 39 days on market in Mar 2024, down by 5.5% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 30 homes were sold in 08721; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.