Is 08840, 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, 08840 has remained a Seller's Market.
Housing Prices in 08840, NJ
How much do homes in 08840, NJ cost?
Median Sold Price
$629,950
$379/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08840 was $629,950 in April 2024, up 22.3% from last year, and the median price per square foot was $379.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $234.2K | $280K | +19.5% |
2 Bedrooms | $350K | $405K | +15.7% |
3 Bedrooms | $515K | $593.5K | +15.2% |
4 Bedrooms | $635K | $700K | +10.2% |
5+ Bedrooms | $699.9K | $875.9K | +25.1% |
Summary: 08840 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.5%, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 25.1%.
Housing Supply in 08840, NJ
How many homes are available in 08840, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
46 | 48 | +4.3% |
Summary: The 08840 real estate market had 48 homes for sale in April 2024, a 4.3% 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 | 8 | 5 | -37.5% |
3 Bedrooms | 14 | 17 | +21.4% |
4 Bedrooms | 18 | 14 | -22.2% |
5+ Bedrooms | 6 | 12 | +100.0% |
Summary: The 08840 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 decreased by 37.5%, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
17 | 10 | -41.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in 08840 in April 2024, down by 41.2% month-over-month. Of the 10 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for 08840, NJ
How long does it take to sell a home in 08840, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
27 Days | 26 Days | -1.1% |
Summary: Homes in 08840 had an average of 26 days on market in Apr 2024, down by 1.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in 08840; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.