Is 08801, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 08801 has remained a Seller's Market.
Key Takeaway
08801 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08801, NJ
How much do homes in 08801, NJ cost?
Median Sold Price
$419,500
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08801 have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in 08801 was $419,500 in March 2024, down 1.3% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $230K | +7.0% |
| 2 Bedrooms | $315K | $353.7K | +12.3% |
| 3 Bedrooms | $501K | $506.6K | +1.1% |
| 4 Bedrooms | $659K | $682.5K | +3.6% |
| 5+ Bedrooms | $593K | $545.9K | -7.9% |
Summary: 08801 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 7.9%.
Housing Supply in 08801, NJ
How many homes are available in 08801, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Summary: The 08801 real estate market had 24 homes for sale in March 2024, a 9.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 7 | +133.3% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 08801 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 133.3%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08801, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 08801 in March 2024, up by 75.0% month-over-month. Of the 7 sold homes, 14% were sold under asking, 0% were sold at asking, and 86% were sold over asking.
Days on Market for 08801, NJ
We’re sorry, we don't have information for this market at the moment
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