$6,994 Closing Credit*
$589,000
5 Beds
•1 Full Bath, 1 Partial
Listing Office: TWRG REALTY GROUP
Is 07208, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 07208 was a Seller's Market.
Key Takeaway
07208 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 07208, NJ
How much do homes in 07208, NJ cost?
Median Sold Price
$405,000
-
Based on all homes sold in October 2024.
Difference Since Last Month
-$180,000(-30.8%)
Key Takeaway
Homes in 07208 have sold for 30.8% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $407.2K | $302.4K | -25.7% |
| 3 Bedrooms | $567.5K | $650K | +14.5% |
| 4 Bedrooms | $639K | $537.5K | -15.9% |
| 5+ Bedrooms | $692.5K | - | N/A |
Summary: 07208 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 25.7%, 3 bedroom homes increased by 14.5%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 07202 | $447K | $470K | +5.1% |
| 07208 | $585K | $405K | -30.8% |
Housing Supply in 07208, NJ
How many homes are available in 07208, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 55 | +12.2% |
Summary: The 07208 real estate market had 55 homes for sale in October 2024, a 12.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 8 | 12 | +50.0% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The 07208 housing inventory by bedroom type for October 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 50%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 07208, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 07208 in October 2024, down by 22.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for 07208, NJ
We’re sorry, we don't have information for this market at the moment
