Is 08550, 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, 08550 was a Seller's Market.
Housing Prices in 08550, NJ
How much do homes in 08550, NJ cost?
Median Sold Price
$905,500
$355/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08550 was $905,500 in April 2024, up 5.5% from last year, and the median price per square foot was $355.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $491.5K | $520K | +5.8% |
3 Bedrooms | $624K | $670K | +7.4% |
4 Bedrooms | $906K | $977.5K | +7.9% |
5+ Bedrooms | $1.1M | $1.1M | 0.0% |
Summary: 08550 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 5.8%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes did not change.
Housing Supply in 08550, NJ
How many homes are available in 08550, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
35 | 45 | +28.6% |
Summary: The 08550 real estate market had 45 homes for sale in April 2024, a 28.6% 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 | 2 | 4 | +100.0% |
3 Bedrooms | 7 | 9 | +28.6% |
4 Bedrooms | 16 | 21 | +31.3% |
5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The 08550 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 100%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 7 | -12.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in 08550 in April 2024, down by 12.5% month-over-month. Of the 7 sold homes, 14% were sold under asking, 0% were sold at asking, and 86% were sold over asking.
Days on Market for 08550, NJ
How long does it take to sell a home in 08550, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
11 Days | 10 Days | -13.0% |
Summary: Homes in 08550 had an average of 10 days on market in Apr 2024, down by 13% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in 08550; 100% 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.