Is 08755, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08755 is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 08755 was a Buyer's Market.

Key Takeaway

08755 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08755, NJ

How much do homes in 08755, NJ cost?

Median Sold Price

$416,000

$234/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$980(-0.2%)

Key Takeaway

The sold price of homes in 08755 has remained the same since last year.

Summary: The median home sold price in 08755 was $416,000 in February 2024, down 0.2% from last year, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $115K$167.5K
+45.7%
2 $355K$359.4K
+1.3%
3 $420K$440K
+4.8%
4 $737.5K$680K
-7.8%
5+ $957.9K$900K
-6.1%

Summary: 08755 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.7%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes decreased by 6.1%.

Median Sold Price Compared To Nearby Zip Codes

08759
+11.1%
08753
+7.2%
08757
+3.6%
08755
-0.2%
08701
-6.3%

Housing Supply in 08755, NJ

How many homes are available in 08755, NJ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
125115-8.0%

Summary: The 08755 real estate market had 115 homes for sale in February 2024, a 8.0% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 23
+50.0%
2 4845
-6.3%
3 2620
-23.1%
4 3434
0.0%
5+ 1513
-13.3%

Summary: The 08755 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 13.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2720-25.9%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08755, expect to pay close to the asking price. 45% of homes here sold near the asking price last month.

Summary: A total of 20 homes were sold or pending in 08755 in February 2024, down by 25.9% month-over-month. Of the 20 sold homes, 25% were sold under asking, 45% were sold at asking, and 30% were sold over asking.

Days on Market for 08755, NJ

How long does it take to sell a home in 08755, NJ?

Average Sale Time

Feb 2023Feb 2024CHANGE
43 Days29 Days-31.4%

Summary: Homes in 08755 had an average of 29 days on market in Feb 2024, down by 31.4% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08755 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 20 homes were sold in 08755; 75% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

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

Report Updated 28 Days Ago

Newest Listings in 08755, NJ

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