Is 08829, 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, 08829 has remained a Seller's Market.
Key Takeaway
08829 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08829, NJ
How much do homes in 08829, NJ cost?
Median Sold Price
$340,000
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08829 have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in 08829 was $340,000 in April 2024, up 9.7% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | - | N/A |
| 2 Bedrooms | $230K | $230K | 0.0% |
| 3 Bedrooms | $310K | $340K | +9.7% |
| 4 Bedrooms | $475K | $558.5K | +17.6% |
| 5+ Bedrooms | $465K | $530.4K | +14.1% |
Summary: 08829 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 did not change, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 14.1%.
Median Sold Price Compared To Nearby Zip Codes
| 08826 | $325K | $410.5K | +26.3% |
| 08829 | $310K | $340K | +9.7% |
| 08809 | $397.5K | $400K | +0.6% |
| 08801 | $431.3K | $423.2K | -1.9% |
Housing Supply in 08829, NJ
How many homes are available in 08829, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 22 | +4.8% |
Summary: The 08829 real estate market had 22 homes for sale in April 2024, a 4.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 08829 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 7 | +250.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08829, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 08829 in April 2024, up by 250.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for 08829, NJ
How long does it take to sell a home in 08829, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 08829 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 7 homes were sold in 08829; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% 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 Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.