Is 08751, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08751 is a buyer's market

Buyer's
Market

Difference Since December 2021

At the same time last year, 08751 was a Seller's Market.

Key Takeaway

08751 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in 08751, NJ cost?

Median Sold Price

$505,000

$395/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

-$99,950(-16.5%)

Key Takeaway

Homes in 08751 have sold for 16.5% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $190K$235K
+23.7%
2 $170.4K$415.4K
+143.7%
3 $480K$557.5K
+16.1%
4 $690K$860K
+24.6%
5+ $907.5K$850K
-6.3%

Median Sold Price Compared To Nearby Zip Codes

08753
+17.0%
08751
-16.5%
08735
-28.4%

How many homes are available in 08751, NJ?

Number of Homes For Sale

Nov 2022Dec 2022%
7173+2.8%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 32
-33.3%
2 2222
0.0%
3 1412
-14.3%
4 1618
+12.5%
5+ 1619
+18.8%

Number of Homes Sold

Nov 2022Dec 2022%
810+25.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08751, you may be able to get a good deal. 90% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
34 Days25 Days-26.4%

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08751 are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About 08751, NJ

08751, NJ has 73 homes for sale to choose from. The inventory of homes for sale in 08751, NJ between November 2022 and December 2022 increased by 2.8%. In December 2022 median list price was $505,000 and the average listing age was 25 days. This housing market listing prices have changed between November 2022 and December 2022: prices of 1 bedroom properties increased by 23.7%, the cost of 2 bedrooms properties went up by 143.7%, 3 bedrooms properties prices increased by 16.1%, 4 bedrooms properties became 24.6% more expensive, 5 bedrooms properties prices decreased by 6.3%. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes went down by 33.3%, volume of 2 bedrooms homes stayed the same, 3 bedrooms homes inventory decreased by 14.3%, the quantity of 4 bedrooms homes went up by 12.5%, 5 bedrooms homes became 18.8% more available. While more than 0 listings in 08751, NJ in December 2022 were sold above asking price, there were more than 1 listings sold at asking price, and more than 9 were sold below.