Is 08848, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 08848 was a Seller's Market.
Key Takeaway
08848 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 08848, NJ
How much do homes in 08848, NJ cost?
Median Sold Price
$450,500
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08848 have sold for 12.6% more than they did a year ago.
Summary: The median home sold price in 08848 was $450,500 in April 2024, up 12.6% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116.2K | $257.7K | +121.7% |
| 2 Bedrooms | $287K | $283.5K | -1.2% |
| 3 Bedrooms | $379K | $415K | +9.5% |
| 4 Bedrooms | $530.7K | $650K | +22.5% |
| 5+ Bedrooms | $940K | $1.2M | +30.9% |
Summary: 08848 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 121.7%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes increased by 30.9%.
Housing Supply in 08848, NJ
How many homes are available in 08848, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 26 | 0.0% |
Summary: The 08848 real estate market had 26 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 08848 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 100%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08848, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 08848 in April 2024, down by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for 08848, NJ
How long does it take to sell a home in 08848, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 4 Days | 166 Days | +4050.0% |
Summary: Homes in 08848 had an average of 166 days on market in Apr 2024, up by 4050% compared to last year.
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 08848 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 4 homes were sold in 08848; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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.