Is 08742, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 08742 has remained a Seller's Market.
Housing Prices in 08742, NJ
How much do homes in 08742, NJ cost?
Median Sold Price
$676,993
$433/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08742 was $676,993 in April 2024, up 7% from last year, and the median price per square foot was $433.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $305K | $338.5K | +11.0% |
2 Bedrooms | $435K | $480K | +10.3% |
3 Bedrooms | $600.4K | $642.5K | +7.0% |
4 Bedrooms | $860K | $877.5K | +2.0% |
5+ Bedrooms | $1.3M | $1.9M | +40.8% |
Summary: 08742 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 40.8%.
Housing Supply in 08742, NJ
How many homes are available in 08742, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
124 | 118 | -4.8% |
Summary: The 08742 real estate market had 118 homes for sale in April 2024, a 4.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 13 | 7 | -46.2% |
2 Bedrooms | 18 | 16 | -11.1% |
3 Bedrooms | 36 | 31 | -13.9% |
4 Bedrooms | 28 | 29 | +3.6% |
5+ Bedrooms | 29 | 35 | +20.7% |
Summary: The 08742 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 46.2%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 13.9%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 20.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 29 | +16.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in 08742 in April 2024, up by 16.0% month-over-month. Of the 29 sold homes, 45% were sold under asking, 10% were sold at asking, and 45% were sold over asking.
Days on Market for 08742, NJ
How long does it take to sell a home in 08742, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
50 Days | 23 Days | -54.7% |
Summary: Homes in 08742 had an average of 23 days on market in Apr 2024, down by 54.7% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 29 homes were sold in 08742; 76% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.