Is 08886, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 08886 was a Neutral Market.
Key Takeaway
08886 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08886, NJ
How much do homes in 08886, NJ cost?
Median Sold Price
$425,000
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08886 have sold for 4.5% less than they did a year ago.
Summary: The median home sold price in 08886 was $425,000 in April 2024, down 4.5% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $219.5K | $262K | +19.4% |
| 3 Bedrooms | $327.5K | $391K | +19.4% |
| 4 Bedrooms | $547.9K | $575K | +4.9% |
| 5+ Bedrooms | $582.5K | $570K | -2.1% |
Summary: 08886 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 19.4%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes decreased by 2.1%.
Housing Supply in 08886, NJ
How many homes are available in 08886, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 20 | +17.6% |
Summary: The 08886 real estate market had 20 homes for sale in April 2024, a 17.6% increase 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 08886 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08886, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 08886 in April 2024, up by 400.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for 08886, NJ
How long does it take to sell a home in 08886, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08886 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 08886; 20% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
