Is 08872, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 08872 was a Buyer's Market.
Key Takeaway
08872 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08872, NJ
How much do homes in 08872, NJ cost?
Median Sold Price
$445,000
$292/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08872 have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in 08872 was $445,000 in March 2024, up 8.3% from last year, and the median price per square foot was $292.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | - | N/A |
| 2 Bedrooms | $345K | $365K | +5.8% |
| 3 Bedrooms | $410K | $425K | +3.7% |
| 4 Bedrooms | $550K | $565K | +2.7% |
| 5+ Bedrooms | $587.5K | $625K | +6.4% |
Summary: 08872 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 6.4%.
Housing Supply in 08872, NJ
How many homes are available in 08872, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 43 | 42 | -2.3% |
Summary: The 08872 real estate market had 42 homes for sale in March 2024, a 2.3% decrease 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 | 13 | 12 | -7.7% |
| 3 Bedrooms | 12 | 13 | +8.3% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 08872 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 7.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 9 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08872, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in 08872 in March 2024, down by 40.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 11% were sold at asking, and 78% were sold over asking.
Days on Market for 08872, NJ
How long does it take to sell a home in 08872, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 73 Days | 33 Days | -54.6% |
Summary: Homes in 08872 had an average of 33 days on market in Mar 2024, down by 54.6% compared to last year.
Breakdown of Home Sale Times
7 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 08872 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in 08872; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
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.