$3,977 Closing Credit*
$334,900
1,734 SqFt
3 Beds
•1 Full Bath, 1 Partial
Kathryn E Mullan, Listing Office: Coldwell Banker Realty
Is 08031, 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, 08031 has remained a Seller's Market.
Key Takeaway
08031 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08031, NJ
How much do homes in 08031, NJ cost?
Median Sold Price
$300,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$28,000(+10.3%)
Key Takeaway
Homes in 08031 have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in 08031 was $300,000 in October 2024, up 10.3% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $222K | $225K | +1.4% |
| 3 Bedrooms | $270.5K | $300K | +10.9% |
| 4 Bedrooms | $289.9K | $340K | +17.3% |
| 5+ Bedrooms | $345K | $1.4M | +315.2% |
Summary: 08031 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 1.4%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes increased by 315.2%.
Housing Supply in 08031, NJ
How many homes are available in 08031, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 35 | +40.0% |
Summary: The 08031 real estate market had 35 homes for sale in October 2024, a 40.0% increase 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 16 | 23 | +43.8% |
| 4 Bedrooms | 5 | 8 | +60.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08031 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 increased by 43.8%, 4 bedroom homes increased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08031, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 08031 in October 2024, up by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for 08031, NJ
How long does it take to sell a home in 08031, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 21 Days | 0.1% |
Summary: Homes in 08031 had an average of 21 days on market in Oct 2024, up by 0.1% compared to last year.
Breakdown of Home Sale Times
7 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 08031 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in 08031; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.