Is 08863, 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, 08863 has remained a Seller's Market.
Key Takeaway
08863 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08863, NJ
How much do homes in 08863, NJ cost?
Median Sold Price
$450,000
$344/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08863 have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in 08863 was $450,000 in April 2024, up 5.9% from last year, and the median price per square foot was $344.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $296K | N/A |
| 2 Bedrooms | $330K | $350K | +6.1% |
| 3 Bedrooms | $425K | $442.5K | +4.1% |
| 4 Bedrooms | $450K | $522.5K | +16.1% |
| 5+ Bedrooms | $460K | $556K | +20.9% |
Summary: 08863 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 6.1%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 20.9%.
Housing Supply in 08863, NJ
How many homes are available in 08863, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 31 | -13.9% |
Summary: The 08863 real estate market had 31 homes for sale in April 2024, a 13.9% decrease 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 15 | 11 | -26.7% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 08863 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 25%, 3 bedroom homes decreased by 26.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08863, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 08863 in April 2024, down by 11.1% month-over-month. Of the 8 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for 08863, NJ
How long does it take to sell a home in 08863, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 30 Days | -23.1% |
Summary: Homes in 08863 had an average of 30 days on market in Apr 2024, down by 23.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08863 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in 08863; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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