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 November 2021

Since last year, 08751 has remained a Buyer'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

$600,000

$393/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$35,000(+6.2%)

Key Takeaway

Homes in 08751 have sold for 6.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $82K$235K
+186.6%
2 $225.9K$431K
+90.8%
3 $357.5K$557.5K
+55.9%
4 $650K$855K
+31.5%
5+ $935K$850K
-9.1%

Median Sold Price Compared To Nearby Zip Codes

08753
+20.6%
08751
+6.2%
08735
-11.7%

How many homes are available in 08751, NJ?

Number of Homes For Sale

Oct 2022Nov 2022%
7377+5.5%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 22
0.0%
2 2223
+4.5%
3 1415
+7.1%
4 1717
0.0%
5+ 1820
+11.1%

Number of Homes Sold

Oct 2022Nov 2022%
86-25.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08751, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Average Sale Time

Nov 2021Nov 2022%
10 Days64 Days+541.7%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 08751 are taking a long time to sell, it's a good idea to negotiate on homes here.

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

About 08751, NJ

There are 77 homes are for sale in 08751, NJ real estate market. The inventory of homes for sale in 08751, NJ between October 2022 and November 2022 increased by 5.5%. While the average time on the market in November 2022 was 64 days, the median list price was $600,000. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 186.6%, the cost of 2 bedrooms properties went up by 90.8%, prices of 3 bedrooms properties went up by 55.9%, 4 bedrooms properties became 31.5% more expensive, prices of 5 bedrooms properties went down by 9.1%. Volume of homes for sale changed: volume of 1 bedroom homes stayed the same, 2 bedrooms homes inventory increased by 4.5%, number of 3 bedrooms homes increased by 7.1%, volume of 4 bedrooms homes stayed the same, 5 bedrooms homes inventory increased by 11.1%. In November 2022 more than 3 listings in 08751, NJ were sold above the asking price. During the same period more than 1 listings were sold at asking price, while more than 2 were sold below.