$10,000 Closing Credit*
$1,293,500
4,435 SqFt
4 Beds
•3 Full Baths
Marie L. Holloway
Is 08050, 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, 08050 has remained a Seller's Market.
Key Takeaway
08050 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08050, NJ
How much do homes in 08050, NJ cost?
Median Sold Price
$515,666
$283/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,666(+1.1%)
Key Takeaway
Homes in 08050 have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in 08050 was $515,666 in October 2024, up 1.1% from last year, and the median price per square foot was $283.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $154.5K | +3.0% |
| 2 Bedrooms | $300K | $350K | +16.7% |
| 3 Bedrooms | $468K | $480K | +2.6% |
| 4 Bedrooms | $624.4K | $642.4K | +2.9% |
| 5+ Bedrooms | $660K | $995K | +50.8% |
Summary: 08050 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 50.8%.
Housing Supply in 08050, NJ
How many homes are available in 08050, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 213 | 214 | 0.5% |
Summary: The 08050 real estate market had 214 homes for sale in October 2024, a 0.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 27 | 29 | +7.4% |
| 3 Bedrooms | 78 | 84 | +7.7% |
| 4 Bedrooms | 73 | 68 | -6.8% |
| 5+ Bedrooms | 35 | 31 | -11.4% |
Summary: The 08050 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes decreased by 11.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 49 | +22.5% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08050, you may be able to get a good deal. 47.9% of homes here sold below asking price last month.
Summary: A total of 49 homes were sold or pending in 08050 in October 2024, up by 22.5% month-over-month. Of the 48 sold homes, 48% were sold under asking, 13% were sold at asking, and 40% were sold over asking.
Days on Market for 08050, NJ
How long does it take to sell a home in 08050, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 34 Days | -20.5% |
Summary: Homes in 08050 had an average of 34 days on market in Oct 2024, down by 20.5% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08050 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 49 homes were sold in 08050; 57% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 4% 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 Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.