$2,363 Closing Credit*
$199,000
812 SqFt
2 Beds
•2 Full Baths
Nicole A McCaffery, Listing Office: RE/MAX Community-Williamstown
Is 08051, 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, 08051 has remained a Seller's Market.
Key Takeaway
08051 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08051, NJ
How much do homes in 08051, NJ cost?
Median Sold Price
$268,900
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$18,900(+7.6%)
Key Takeaway
Homes in 08051 have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in 08051 was $268,900 in November 2024, up 7.6% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162.5K | $182.7K | +12.4% |
| 2 Bedrooms | $220K | $231.5K | +5.2% |
| 3 Bedrooms | $275.2K | $307K | +11.5% |
| 4 Bedrooms | $435K | $488.3K | +12.3% |
| 5+ Bedrooms | $720K | $531K | -26.3% |
Summary: 08051 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.4%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes decreased by 26.3%.
Median Sold Price Compared To Nearby Zip Codes
| 08086 | $300.5K | $338.7K | +12.7% |
| 08051 | $250K | $268.9K | +7.6% |
| 08020 | $387K | $399.5K | +3.2% |
| 08090 | $327K | $330K | +0.9% |
Housing Supply in 08051, NJ
How many homes are available in 08051, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 43 | -8.5% |
Summary: The 08051 real estate market had 43 homes for sale in November 2024, a 8.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 23 | 17 | -26.1% |
| 3 Bedrooms | 13 | 15 | +15.4% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 08051 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 26.1%, 3 bedroom homes increased by 15.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 17 | +21.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08051, expect to pay close to the asking price. 41.2% of homes here sold near the asking price last month.
Summary: A total of 17 homes were sold or pending in 08051 in November 2024, up by 21.4% month-over-month. Of the 17 sold homes, 29% were sold under asking, 41% were sold at asking, and 29% were sold over asking.
Days on Market for 08051, NJ
How long does it take to sell a home in 08051, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 18 Days | 26 Days | +44.5% |
Summary: Homes in 08051 had an average of 26 days on market in Nov 2024, up by 44.5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08051 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 17 homes were sold in 08051; 65% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
