Is 08873, 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, 08873 has remained a Seller's Market.
Housing Prices in 08873, NJ
How much do homes in 08873, NJ cost?
Median Sold Price
$489,666
$289/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08873 was $489,666 in April 2024, up 9.9% from last year, and the median price per square foot was $289.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $182.5K | $201K | +10.1% |
2 Bedrooms | $385.5K | $420K | +8.9% |
3 Bedrooms | $455K | $500K | +9.9% |
4 Bedrooms | $542.5K | $585K | +7.8% |
5+ Bedrooms | $740K | $619K | -16.4% |
Summary: 08873 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.1%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 16.4%.
Housing Supply in 08873, NJ
How many homes are available in 08873, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
136 | 147 | +8.1% |
Summary: The 08873 real estate market had 147 homes for sale in April 2024, a 8.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 55 | 57 | +3.6% |
3 Bedrooms | 34 | 40 | +17.6% |
4 Bedrooms | 34 | 39 | +14.7% |
5+ Bedrooms | 11 | 9 | -18.2% |
Summary: The 08873 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 3.6%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes decreased by 18.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 41 | +24.2% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Summary: A total of 41 homes were sold or pending in 08873 in April 2024, up by 24.2% month-over-month. Of the 41 sold homes, 12% were sold under asking, 5% were sold at asking, and 83% were sold over asking.
Days on Market for 08873, NJ
How long does it take to sell a home in 08873, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
31 Days | 32 Days | +1.4% |
Summary: Homes in 08873 had an average of 32 days on market in Apr 2024, up by 1.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 41 homes were sold in 08873; 15% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.