Is 08854, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 08854 has remained a Seller's Market.
Housing Prices in 08854, NJ
How much do homes in 08854, NJ cost?
Median Sold Price
$485,000
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08854 was $485,000 in March 2024, up 6.3% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $245K | $280K | +14.3% |
2 Bedrooms | $349K | $395K | +13.2% |
3 Bedrooms | $450K | $470K | +4.4% |
4 Bedrooms | $560K | $575K | +2.7% |
5+ Bedrooms | $615K | $670K | +8.9% |
Summary: 08854 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 8.9%.
Housing Supply in 08854, NJ
How many homes are available in 08854, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
87 | 90 | +3.4% |
Summary: The 08854 real estate market had 90 homes for sale in March 2024, a 3.4% 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 | 24 | 20 | -16.7% |
3 Bedrooms | 33 | 36 | +9.1% |
4 Bedrooms | 19 | 22 | +15.8% |
5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The 08854 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 decreased by 16.7%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
29 | 18 | -37.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in 08854 in March 2024, down by 37.9% month-over-month. Of the 18 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.
Days on Market for 08854, NJ
How long does it take to sell a home in 08854, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
59 Days | 27 Days | -54.8% |
Summary: Homes in 08854 had an average of 27 days on market in Mar 2024, down by 54.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in 08854; 39% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.