Is 08812, 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, 08812 has remained a Seller's Market.
Key Takeaway
08812 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08812, NJ
How much do homes in 08812, NJ cost?
Median Sold Price
$505,000
$299/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08812 have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in 08812 was $505,000 in March 2024, up 12.3% from last year, and the median price per square foot was $299.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $202.2K | N/A |
| 2 Bedrooms | $340K | $425K | +25.0% |
| 3 Bedrooms | $420K | $450K | +7.1% |
| 4 Bedrooms | $565K | $562.5K | -0.4% |
| 5+ Bedrooms | $807.5K | $715K | -11.5% |
Summary: 08812 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 increased by 25%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes decreased by 11.5%.
Housing Supply in 08812, NJ
How many homes are available in 08812, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 50 | +22.0% |
Summary: The 08812 real estate market had 50 homes for sale in March 2024, a 22.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 16 | 18 | +12.5% |
| 4 Bedrooms | 11 | 15 | +36.4% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 08812 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 increased by 22.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 10 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08812, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 08812 in March 2024, up by 150.0% month-over-month. Of the 10 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for 08812, NJ
How long does it take to sell a home in 08812, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 57 Days | 36 Days | -36.1% |
Summary: Homes in 08812 had an average of 36 days on market in Mar 2024, down by 36.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08812 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in 08812; 30% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.