Is 08879, 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, 08879 was a Seller's Market.
Housing Prices in 08879, NJ
How much do homes in 08879, NJ cost?
Median Sold Price
$451,000
$295/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08879 was $451,000 in March 2024, up 8.7% from last year, and the median price per square foot was $295.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $238K | $240K | +0.8% |
2 Bedrooms | $402.5K | $350K | -13.0% |
3 Bedrooms | $415K | $455K | +9.6% |
4 Bedrooms | $425K | $525K | +23.5% |
5+ Bedrooms | $625K | $502.5K | -19.6% |
Summary: 08879 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes decreased by 13%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes decreased by 19.6%.
Housing Supply in 08879, NJ
How many homes are available in 08879, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
50 | 69 | +38.0% |
Summary: The 08879 real estate market had 69 homes for sale in March 2024, a 38.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 11 | 16 | +45.5% |
3 Bedrooms | 23 | 30 | +30.4% |
4 Bedrooms | 13 | 15 | +15.4% |
5+ Bedrooms | 3 | 7 | +133.3% |
Summary: The 08879 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 45.5%, 3 bedroom homes increased by 30.4%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 133.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 11 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 08879 in March 2024, the same as the previous month. Of the 11 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% were sold over asking.
Days on Market for 08879, NJ
How long does it take to sell a home in 08879, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 51 Days | +23.8% |
Summary: Homes in 08879 had an average of 51 days on market in Mar 2024, up by 23.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 08879; 55% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.