Is 08735, 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, 08735 has remained a Seller's Market.
Housing Prices in 08735, NJ
How much do homes in 08735, NJ cost?
Median Sold Price
$900,000
$804/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08735 was $900,000 in March 2024, up 1.5% from last year, and the median price per square foot was $804.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $399.9K | $325K | -18.7% |
2 Bedrooms | $589K | $604K | +2.5% |
3 Bedrooms | $862.5K | $867.5K | +0.6% |
4 Bedrooms | $1.2M | $1.2M | -2.1% |
5+ Bedrooms | $1.5M | $1.7M | +16.1% |
Summary: 08735 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.7%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 16.1%.
Housing Supply in 08735, NJ
How many homes are available in 08735, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
62 | 62 | 0.0% |
Summary: The 08735 real estate market had 62 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 12 | 20 | +66.7% |
3 Bedrooms | 17 | 13 | -23.5% |
4 Bedrooms | 19 | 18 | -5.3% |
5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The 08735 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 66.7%, 3 bedroom homes decreased by 23.5%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 14 | +100.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 08735 in March 2024, up by 100.0% month-over-month. Of the 14 sold homes, 57% were sold under asking, 21% were sold at asking, and 21% were sold over asking.
Days on Market for 08735, NJ
How long does it take to sell a home in 08735, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
35 Days | 72 Days | +103.6% |
Summary: Homes in 08735 had an average of 72 days on market in Mar 2024, up by 103.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in 08735; 29% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.