Is 08751, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, 08751 was a Neutral Market.
Housing Prices in 08751, NJ
How much do homes in 08751, NJ cost?
Median Sold Price
$675,000
$418/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 08751 was $675,000 in February 2024, up 18.2% from last year, and the median price per square foot was $418.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $211.2K | $245K | +16.0% |
2 Bedrooms | $410K | $395K | -3.7% |
3 Bedrooms | $535.5K | $644.9K | +20.4% |
4 Bedrooms | $794.5K | $790K | -0.6% |
5+ Bedrooms | $814K | $899.9K | +10.6% |
Summary: 08751 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 20.4%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 10.6%.
Housing Supply in 08751, NJ
How many homes are available in 08751, NJ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
73 | 95 | +30.1% |
Summary: The 08751 real estate market had 95 homes for sale in February 2024, a 30.1% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 12 | 17 | +41.7% |
3 Bedrooms | 15 | 19 | +26.7% |
4 Bedrooms | 15 | 21 | +40.0% |
5+ Bedrooms | 29 | 38 | +31.0% |
Summary: The 08751 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 31%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
8 | 10 | +25.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in 08751 in February 2024, up by 25.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
72 Days | 69 Days | -3.8% |
Summary: Homes in 08751 had an average of 69 days on market in Feb 2024, down by 3.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 10 homes were sold in 08751; 40% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.