$3,794 Closing Credit*
$319,500
1,302 SqFt
3 Beds
•1 Full Bath
Bill Hamberg, Listing Office: RE/MAX at the Sea
Is 08002, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$405,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$30,000(+8.0%)
Key Takeaway
Homes in 08002 have sold for 8% more than they did a year ago.
Summary: The median home sold price in 08002 was $405,000 in November 2024, up 8% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $141.5K | +1.1% |
| 2 Bedrooms | $277.5K | $280.5K | +1.1% |
| 3 Bedrooms | $370K | $402.5K | +8.8% |
| 4 Bedrooms | $428.5K | $465K | +8.5% |
| 5+ Bedrooms | $535K | $510K | -4.7% |
Summary: 08002 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 8.5%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 74 | 76 | +2.7% |
Summary: The 08002 real estate market had 76 homes for sale in November 2024, a 2.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 37 | 38 | +2.7% |
| 4 Bedrooms | 25 | 28 | +12.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 08002 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 20 | +17.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08002, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in 08002 in November 2024, up by 17.6% month-over-month. Of the 20 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 25 Days | 23 Days | -9.2% |
Summary: Homes in 08002 had an average of 23 days on market in Nov 2024, down by 9.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 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 November 2024, 20 homes were sold in 08002; 70% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
