$4,460 Closing Credit*
$375,590
1,782 SqFt
4 Beds
•2 Full Baths
Laurence E Peterson, Listing Office: OMNI Real Estate Professionals
Is 08012, 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, 08012 has remained a Seller's Market.
Key Takeaway
08012 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08012, NJ
How much do homes in 08012, NJ cost?
Median Sold Price
$335,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,257(+6.1%)
Key Takeaway
Homes in 08012 have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in 08012 was $335,000 in October 2024, up 6.1% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $174.9K | $174.9K | 0.0% |
| 2 Bedrooms | $210K | $235K | +11.9% |
| 3 Bedrooms | $310K | $320K | +3.2% |
| 4 Bedrooms | $374.1K | $393K | +5.0% |
| 5+ Bedrooms | $410K | $455K | +11.0% |
Summary: 08012 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 11%.
Housing Supply in 08012, NJ
How many homes are available in 08012, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 96 | 94 | -2.1% |
Summary: The 08012 real estate market had 94 homes for sale in October 2024, a 2.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 42 | 48 | +14.3% |
| 4 Bedrooms | 41 | 34 | -17.1% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 08012 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 17.1%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 17 | -51.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08012, you could pay more than the asking price. 58.8% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in 08012 in October 2024, down by 51.4% month-over-month. Of the 17 sold homes, 18% were sold under asking, 24% were sold at asking, and 59% were sold over asking.
Days on Market for 08012, NJ
How long does it take to sell a home in 08012, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 22 Days | -25.0% |
Summary: Homes in 08012 had an average of 22 days on market in Oct 2024, down by 25% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08012 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in 08012; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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