$5,569 Closing Credit*
$469,000
1,686 SqFt
4 Beds
•1 Full Bath, 1 Partial
Beth Vassalotti, Listing Office: Tesla Realty Group LLC
Is 08002, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 08002 has remained a Seller's Market.
Key Takeaway
08002 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08002, NJ
How much do homes in 08002, NJ cost?
Median Sold Price
$401,666
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$38,666(+10.7%)
Key Takeaway
Homes in 08002 have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in 08002 was $401,666 in October 2024, up 10.7% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $136.5K | -2.5% |
| 2 Bedrooms | $260K | $285K | +9.6% |
| 3 Bedrooms | $360K | $400K | +11.1% |
| 4 Bedrooms | $420K | $465K | +10.7% |
| 5+ Bedrooms | $535K | $510K | -4.7% |
Summary: 08002 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 4.7%.
Housing Supply in 08002, NJ
How many homes are available in 08002, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 66 | 74 | +12.1% |
Summary: The 08002 real estate market had 74 homes for sale in October 2024, a 12.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 13 | 9 | -30.8% |
| 3 Bedrooms | 29 | 38 | +31.0% |
| 4 Bedrooms | 18 | 24 | +33.3% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The 08002 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 30.8%, 3 bedroom homes increased by 31%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08002, you could pay more than the asking price. 56.3% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in 08002 in October 2024, up by 14.3% month-over-month. Of the 16 sold homes, 38% were sold under asking, 6% were sold at asking, and 56% were sold over asking.
Days on Market for 08002, NJ
How long does it take to sell a home in 08002, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 24 Days | -5.0% |
Summary: Homes in 08002 had an average of 24 days on market in Oct 2024, down by 5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08002 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in 08002; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
