Is 08751, 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, 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.
Housing Prices in 08751, NJ
How much do homes in 08751, NJ cost?
Median Sold Price
$675,000
$417/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08751 have sold for 17.4% more than they did a year ago.
Summary: The median home sold price in 08751 was $675,000 in March 2024, up 17.4% from last year, and the median price per square foot was $417.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $292.4K | +24.4% |
| 2 Bedrooms | $402K | $430K | +7.0% |
| 3 Bedrooms | $535K | $650K | +21.5% |
| 4 Bedrooms | $799K | $780K | -2.4% |
| 5+ Bedrooms | $850K | $910K | +7.1% |
Summary: 08751 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.4%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 21.5%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 7.1%.
Housing Supply in 08751, NJ
How many homes are available in 08751, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 93 | 100 | +7.5% |
Summary: The 08751 real estate market had 100 homes for sale in March 2024, a 7.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 18 | 22 | +22.2% |
| 3 Bedrooms | 20 | 22 | +10.0% |
| 4 Bedrooms | 21 | 24 | +14.3% |
| 5+ Bedrooms | 34 | 30 | -11.8% |
Summary: The 08751 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 11.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 7 | -30.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 08751, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 08751 in March 2024, down by 30.0% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.
Days on Market for 08751, NJ
How long does it take to sell a home in 08751, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 77 Days | +28.2% |
Summary: Homes in 08751 had an average of 77 days on market in Mar 2024, up by 28.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 08751 has remained consistent over time.
Summary: During March 2024, 7 homes were sold in 08751; 0% of homes were sold within 30 days, 71% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.