$2,672 Closing Credit*
$225,000
1,216 SqFt
3 Beds
•1 Full Bath
sAAJAN Patel, Listing Office: KW Empower
Is 08028, 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, 08028 has remained a Seller's Market.
Key Takeaway
08028 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08028, NJ
How much do homes in 08028, NJ cost?
Median Sold Price
$380,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$65,000(+20.6%)
Key Takeaway
Homes in 08028 have sold for 20.6% more than they did a year ago.
Summary: The median home sold price in 08028 was $380,000 in October 2024, up 20.6% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $81K | N/A |
| 2 Bedrooms | $250K | $259K | +3.6% |
| 3 Bedrooms | $296K | $385.4K | +30.2% |
| 4 Bedrooms | $322.5K | $412.5K | +27.9% |
| 5+ Bedrooms | $355K | $395K | +11.3% |
Summary: 08028 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 3.6%, 3 bedroom homes increased by 30.2%, 4 bedroom homes increased by 27.9%, and 5+ bedroom homes increased by 11.3%.
Housing Supply in 08028, NJ
How many homes are available in 08028, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 91 | 94 | +3.3% |
Summary: The 08028 real estate market had 94 homes for sale in October 2024, a 3.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 9 | 13 | +44.4% |
| 3 Bedrooms | 46 | 51 | +10.9% |
| 4 Bedrooms | 22 | 22 | 0.0% |
| 5+ Bedrooms | 13 | 8 | -38.5% |
Summary: The 08028 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 44.4%, 3 bedroom homes increased by 10.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 38.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 22 | +15.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08028, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in 08028 in October 2024, up by 15.8% month-over-month. Of the 22 sold homes, 50% were sold under asking, 18% were sold at asking, and 32% were sold over asking.
Days on Market for 08028, NJ
How long does it take to sell a home in 08028, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 46 Days | +248.2% |
Summary: Homes in 08028 had an average of 46 days on market in Oct 2024, up by 248.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08028 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 22 homes were sold in 08028; 50% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.