Is 08820, 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, 08820 has remained a Seller's Market.
Key Takeaway
08820 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08820, NJ
How much do homes in 08820, NJ cost?
Median Sold Price
$715,000
$341/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08820 have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in 08820 was $715,000 in March 2024, up 11.7% from last year, and the median price per square foot was $341.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $327K | N/A |
| 2 Bedrooms | $430K | $505K | +17.4% |
| 3 Bedrooms | $577.5K | $650K | +12.6% |
| 4 Bedrooms | $701K | $770K | +9.8% |
| 5+ Bedrooms | $958K | $990K | +3.3% |
Summary: 08820 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 17.4%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 3.3%.
Housing Supply in 08820, NJ
How many homes are available in 08820, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 69 | 85 | +23.2% |
Summary: The 08820 real estate market had 85 homes for sale in March 2024, a 23.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 15 | 21 | +40.0% |
| 4 Bedrooms | 18 | 21 | +16.7% |
| 5+ Bedrooms | 26 | 33 | +26.9% |
Summary: The 08820 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 increased by 40%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 26.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08820, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in 08820 in March 2024, up by 6.7% month-over-month. Of the 16 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% were sold over asking.
Days on Market for 08820, NJ
How long does it take to sell a home in 08820, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 33 Days | 22 Days | -33.0% |
Summary: Homes in 08820 had an average of 22 days on market in Mar 2024, down by 33% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08820 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 16 homes were sold in 08820; 63% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.