Is 08802, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 08802 was a Seller's Market.
Key Takeaway
08802 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 08802, NJ
How much do homes in 08802, NJ cost?
Median Sold Price
$492,450
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08802 have sold for 8.5% less than they did a year ago.
Summary: The median home sold price in 08802 was $492,450 in March 2024, down 8.5% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $265.3K | $220K | -17.1% |
| 3 Bedrooms | $435K | $407.5K | -6.3% |
| 4 Bedrooms | $715K | $655K | -8.4% |
| 5+ Bedrooms | $465K | $626K | +34.6% |
Summary: 08802 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 17.1%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes increased by 34.6%.
Housing Supply in 08802, NJ
How many homes are available in 08802, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Summary: The 08802 real estate market had 14 homes for sale in March 2024, a 12.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08802 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08802, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 08802 in March 2024, down by 60.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 08802, NJ
We’re sorry, we don't have information for this market at the moment
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