Is 08882, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 08882 has remained a Seller's Market.
Key Takeaway
08882 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08882, NJ
How much do homes in 08882, NJ cost?
Median Sold Price
$410,000
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 08882 have sold for 3.5% less than they did a year ago.
Summary: The median home sold price in 08882 was $410,000 in March 2024, down 3.5% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $330K | $350K | +6.1% |
| 2 Bedrooms | $325K | $298K | -8.3% |
| 3 Bedrooms | $390K | $400K | +2.6% |
| 4 Bedrooms | $495K | $487.5K | -1.5% |
| 5+ Bedrooms | $550K | $584.5K | +6.3% |
Summary: 08882 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 6.3%.
Housing Supply in 08882, NJ
How many homes are available in 08882, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 44 | +29.4% |
Summary: The 08882 real estate market had 44 homes for sale in March 2024, a 29.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 19 | 27 | +42.1% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The 08882 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 remained the same, 3 bedroom homes increased by 42.1%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 18 | +125.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08882, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in 08882 in March 2024, up by 125.0% month-over-month. Of the 18 sold homes, 22% were sold under asking, 0% were sold at asking, and 78% were sold over asking.
Days on Market for 08882, NJ
How long does it take to sell a home in 08882, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 51 Days | 50 Days | -1.8% |
Summary: Homes in 08882 had an average of 50 days on market in Mar 2024, down by 1.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08882 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 18 homes were sold in 08882; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
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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.