Is 08755, 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, 08755 was a Buyer's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $115K | $167.5K | +45.7% |
2 Bedrooms | $355K | $359.4K | +1.3% |
3 Bedrooms | $420K | $440K | +4.8% |
4 Bedrooms | $737.5K | $680K | -7.8% |
5+ Bedrooms | $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%.
Housing Supply in 08755, NJ
How many homes are available in 08755, NJ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
125 | 115 | -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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 48 | 45 | -6.3% |
3 Bedrooms | 26 | 20 | -23.1% |
4 Bedrooms | 34 | 34 | 0.0% |
5+ Bedrooms | 15 | 13 | -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 2024 | Feb 2024 | CHANGE |
---|---|---|
27 | 20 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
43 Days | 29 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
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.