$4,750 Closing Credit*
$400,000
1,934 SqFt
3 Beds
•2 Full Baths
Nichole M Arnold, Listing Office: Keller Williams Hometown
Is 08027, 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, 08027 has remained a Seller's Market.
Key Takeaway
08027 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08027, NJ
How much do homes in 08027, NJ cost?
Median Sold Price
$302,500
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$40,000(+15.2%)
Key Takeaway
Homes in 08027 have sold for 15.2% more than they did a year ago.
Summary: The median home sold price in 08027 was $302,500 in October 2024, up 15.2% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215K | $267K | +24.2% |
| 3 Bedrooms | $255.5K | $305K | +19.4% |
| 4 Bedrooms | $320K | $307.5K | -3.9% |
| 5+ Bedrooms | $306.2K | - | N/A |
Summary: 08027 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 24.2%, 3 bedroom homes increased by 19.4%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes did not change.
Housing Supply in 08027, NJ
How many homes are available in 08027, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Summary: The 08027 real estate market had 8 homes for sale in October 2024, a 20.0% decrease 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08027 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 decreased by 33.3%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08027, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 08027 in October 2024, up by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for 08027, NJ
How long does it take to sell a home in 08027, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 156 Days | 19 Days | -87.4% |
Summary: Homes in 08027 had an average of 19 days on market in Oct 2024, down by 87.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08027 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 08027; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
