Is 08804, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 08804 has remained a Seller's Market.
Key Takeaway
08804 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08804, NJ
How much do homes in 08804, NJ cost?
Median Sold Price
$485,000
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08804 have sold for 2% less than they did a year ago.
Summary: The median home sold price in 08804 was $485,000 in April 2024, down 2% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $272K | $279K | +2.6% |
| 3 Bedrooms | $370K | $450K | +21.6% |
| 4 Bedrooms | $555K | $520K | -6.3% |
| 5+ Bedrooms | $1.1M | - | N/A |
Summary: 08804 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 21.6%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes did not change.
Housing Supply in 08804, NJ
How many homes are available in 08804, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 15 | +50.0% |
Summary: The 08804 real estate market had 15 homes for sale in April 2024, a 50.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08804 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08804, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 08804 in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for 08804, NJ
How long does it take to sell a home in 08804, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08804 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 08804; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
