Is 08861, 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, 08861 was a Buyer's Market.
Housing Prices in 08861, NJ
How much do homes in 08861, NJ cost?
Median Sold Price
$385,000
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08861 was $385,000 in April 2024, up 14.9% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $172.5K | $250K | +44.9% |
2 Bedrooms | $306.5K | $315K | +2.8% |
3 Bedrooms | $345K | $390K | +13.0% |
4 Bedrooms | $420K | $421.5K | 0.4% |
5+ Bedrooms | $504.5K | $507.5K | +0.6% |
Summary: 08861 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.9%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 0.6%.
Housing Supply in 08861, NJ
How many homes are available in 08861, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
53 | 65 | +22.6% |
Summary: The 08861 real estate market had 65 homes for sale in April 2024, a 22.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 8 | 12 | +50.0% |
3 Bedrooms | 21 | 28 | +33.3% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The 08861 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 50%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 13 | +160.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 08861 in April 2024, up by 160.0% month-over-month. Of the 13 sold homes, 31% were sold under asking, 15% were sold at asking, and 54% were sold over asking.
Days on Market for 08861, NJ
How long does it take to sell a home in 08861, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
58 Days | 69 Days | +20.3% |
Summary: Homes in 08861 had an average of 69 days on market in Apr 2024, up by 20.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in 08861; 31% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.