Is 08902, 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, 08902 has remained a Seller's Market.
Housing Prices in 08902, NJ
How much do homes in 08902, NJ cost?
Median Sold Price
$453,000
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08902 was $453,000 in April 2024, up 11.5% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $197.7K | $229.5K | +16.1% |
2 Bedrooms | $312K | $350K | +12.2% |
3 Bedrooms | $437.5K | $510K | +16.6% |
4 Bedrooms | $560K | $637.5K | +13.8% |
5+ Bedrooms | $665K | $727.5K | +9.4% |
Summary: 08902 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 16.6%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 9.4%.
Housing Supply in 08902, NJ
How many homes are available in 08902, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
103 | 109 | +5.8% |
Summary: The 08902 real estate market had 109 homes for sale in April 2024, a 5.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 7 | -12.5% |
2 Bedrooms | 34 | 30 | -11.8% |
3 Bedrooms | 32 | 38 | +18.8% |
4 Bedrooms | 22 | 24 | +9.1% |
5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The 08902 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
29 | 21 | -27.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in 08902 in April 2024, down by 27.6% month-over-month. Of the 21 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.
Days on Market for 08902, NJ
How long does it take to sell a home in 08902, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
31 Days | 30 Days | -4.2% |
Summary: Homes in 08902 had an average of 30 days on market in Apr 2024, down by 4.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 21 homes were sold in 08902; 57% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.