Is 08850, 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, 08850 was a Neutral Market.
Key Takeaway
08850 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08850, NJ
How much do homes in 08850, NJ cost?
Median Sold Price
$515,500
$302/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08850 have sold for 17.2% more than they did a year ago.
Summary: The median home sold price in 08850 was $515,500 in April 2024, up 17.2% from last year, and the median price per square foot was $302.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $365K | $375.9K | +3.0% |
| 3 Bedrooms | $419.5K | $457K | +8.9% |
| 4 Bedrooms | $460K | $540K | +17.4% |
| 5+ Bedrooms | $727.5K | $940K | +29.2% |
Summary: 08850 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 increased by 3%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 29.2%.
Housing Supply in 08850, NJ
How many homes are available in 08850, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 25 | +31.6% |
Summary: The 08850 real estate market had 25 homes for sale in April 2024, a 31.6% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 6 | 13 | +116.7% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The 08850 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 remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 116.7%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08850, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 08850 in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for 08850, NJ
How long does it take to sell a home in 08850, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 39 Days | +118.9% |
Summary: Homes in 08850 had an average of 39 days on market in Apr 2024, up by 118.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08850 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 08850; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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