Is 08825, 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, 08825 was a Seller's Market.
Housing Prices in 08825, NJ
How much do homes in 08825, NJ cost?
Median Sold Price
$552,500
$251/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08825 was $552,500 in March 2024, up 6.8% from last year, and the median price per square foot was $251.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $290K | - | N/A |
2 Bedrooms | $419.9K | $285K | -32.1% |
3 Bedrooms | $458K | $545K | +19.0% |
4 Bedrooms | $620K | $645.5K | +4.1% |
5+ Bedrooms | $680K | $750K | +10.3% |
Summary: 08825 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 32.1%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 10.3%.
Housing Supply in 08825, NJ
How many homes are available in 08825, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
27 | 30 | +11.1% |
Summary: The 08825 real estate market had 30 homes for sale in March 2024, a 11.1% increase 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 | 20 | 21 | +5.0% |
4 Bedrooms | 5 | 7 | +40.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 08825 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 5%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 08825 in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for 08825, NJ
How long does it take to sell a home in 08825, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
18 Days | 227 Days | +1161.1% |
Summary: Homes in 08825 had an average of 227 days on market in Mar 2024, up by 1161.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in 08825; 20% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.