$3,563 Closing Credit*
$300,000
1,995 SqFt
4 Beds
•3 Full Baths
Kelli L Ewing, Listing Office: Coldwell Banker Realty
Is 08027, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 08027 was a Seller's Market.
Key Takeaway
08027 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 08027, NJ
How much do homes in 08027, NJ cost?
Median Sold Price
$305,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$42,000(+16.0%)
Key Takeaway
Homes in 08027 have sold for 16% more than they did a year ago.
Summary: The median home sold price in 08027 was $305,000 in November 2024, up 16% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $220.5K | $267K | +21.1% |
| 3 Bedrooms | $256K | $305K | +19.1% |
| 4 Bedrooms | $310K | $323K | +4.2% |
| 5+ Bedrooms | $306.2K | - | N/A |
Summary: 08027 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.1%, 3 bedroom homes increased by 19.1%, 4 bedroom homes increased by 4.2%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Summary: The 08027 real estate market had 7 homes for sale in November 2024, a 12.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 0 | -100.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08027 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 08027, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in 08027 in November 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 21 Days | -47.2% |
Summary: Homes in 08027 had an average of 21 days on market in Nov 2024, down by 47.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were 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 November 2024, 1 homes were sold in 08027; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
