$5,522 Closing Credit*
$465,000
2,093 SqFt
3 Beds
•2 Full Baths, 1 Partial
Marianne Post, Listing Office: BHHS Fox & Roach-Medford
Is 08003, 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, 08003 has remained a Seller's Market.
Key Takeaway
08003 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08003, NJ
How much do homes in 08003, NJ cost?
Median Sold Price
$525,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$45,000(+9.4%)
Key Takeaway
Homes in 08003 have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in 08003 was $525,000 in October 2024, up 9.4% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $181K | $165K | -8.8% |
| 2 Bedrooms | $250K | $273.5K | +9.4% |
| 3 Bedrooms | $370K | $440K | +18.9% |
| 4 Bedrooms | $540K | $581K | +7.6% |
| 5+ Bedrooms | $634.7K | $615K | -3.1% |
Summary: 08003 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.8%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 18.9%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes decreased by 3.1%.
Housing Supply in 08003, NJ
How many homes are available in 08003, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 103 | 97 | -5.8% |
Summary: The 08003 real estate market had 97 homes for sale in October 2024, a 5.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 12 | 12 | 0.0% |
| 3 Bedrooms | 20 | 19 | -5.0% |
| 4 Bedrooms | 51 | 50 | -2.0% |
| 5+ Bedrooms | 19 | 15 | -21.1% |
Summary: The 08003 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 decreased by 5%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 21.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 34 | +25.9% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08003, you could pay more than the asking price. 47.1% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in 08003 in October 2024, up by 25.9% month-over-month. Of the 34 sold homes, 41% were sold under asking, 12% were sold at asking, and 47% were sold over asking.
Days on Market for 08003, NJ
How long does it take to sell a home in 08003, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 34 Days | +62.6% |
Summary: Homes in 08003 had an average of 34 days on market in Oct 2024, up by 62.6% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08003 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 34 homes were sold in 08003; 62% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
