$2,849 Closing Credit*
$239,900
1,118 SqFt
2 Beds
•2 Full Baths
Varinder S Bal, Listing Office: EXP Realty, LLC
Is 08043, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 08043 has remained a Seller's Market.
Key Takeaway
08043 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08043, NJ
How much do homes in 08043, NJ cost?
Median Sold Price
$416,333
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$11,083(+2.7%)
Key Takeaway
Homes in 08043 have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in 08043 was $416,333 in November 2024, up 2.7% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $175K | +6.1% |
| 2 Bedrooms | $231K | $242.5K | +5.0% |
| 3 Bedrooms | $354.5K | $390K | +10.0% |
| 4 Bedrooms | $573.5K | $587.5K | +2.4% |
| 5+ Bedrooms | $687.4K | $730K | +6.2% |
Summary: 08043 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 6.2%.
Housing Supply in 08043, NJ
How many homes are available in 08043, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 107 | 97 | -9.3% |
Summary: The 08043 real estate market had 97 homes for sale in November 2024, a 9.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 6 | -25.0% |
| 2 Bedrooms | 18 | 18 | 0.0% |
| 3 Bedrooms | 34 | 30 | -11.8% |
| 4 Bedrooms | 40 | 36 | -10.0% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The 08043 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 31 | 21 | -32.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08043, you may be able to get a good deal. 47.6% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in 08043 in November 2024, down by 32.3% month-over-month. Of the 21 sold homes, 48% were sold under asking, 10% were sold at asking, and 43% were sold over asking.
Days on Market for 08043, NJ
How long does it take to sell a home in 08043, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 23 Days | -1.6% |
Summary: Homes in 08043 had an average of 23 days on market in Nov 2024, down by 1.6% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08043 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 21 homes were sold in 08043; 71% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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