Is 08035, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08035 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 08035 was a Seller's Market.

Key Takeaway

08035 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 08035, NJ

How much do homes in 08035, NJ cost?

Median Sold Price

$474,900

$282/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$43,900(+10.2%)

Key Takeaway

Homes in 08035 have sold for 10.2% more than they did a year ago.

Summary: The median home sold price in 08035 was $474,900 in October 2024, up 10.2% from last year, and the median price per square foot was $282.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $252.5K$315K
+24.8%
3 $405K$420K
+3.7%
4 $481.4K$592.5K
+23.1%
5+ $875K$557.5K
-36.3%

Summary: 08035 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 24.8%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 36.3%.

Median Sold Price Compared To Nearby Zip Codes

08106
+20.4%
08033
+11.7%
08059
+11.1%
08035
+10.2%

Housing Supply in 08035, NJ

How many homes are available in 08035, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1624+50.0%

Summary: The 08035 real estate market had 24 homes for sale in October 2024, a 50.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 1014
+40.0%
4 46
+50.0%
5+ 12
+100.0%

Summary: The 08035 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 increased by 100%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
14+300.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08035, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in 08035 in October 2024, up by 300.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for 08035, NJ

How long does it take to sell a home in 08035, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
40 Days9 Days-75.7%

Summary: Homes in 08035 had an average of 9 days on market in Oct 2024, down by 75.7% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08035 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in 08035; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in 08035, NJ

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