$6,174 Closing Credit*
$519,900
2,014 SqFt
4 Beds
•2 Full Baths
David J Leipert, Listing Office: BHHS Prime Real Estate
Is 08053, 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, 08053 has remained a Seller's Market.
Key Takeaway
08053 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08053, NJ
How much do homes in 08053, NJ cost?
Median Sold Price
$430,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$42,116(+10.9%)
Key Takeaway
Homes in 08053 have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in 08053 was $430,000 in November 2024, up 10.9% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $215K | +19.4% |
| 2 Bedrooms | $253.7K | $280K | +10.3% |
| 3 Bedrooms | $378.5K | $415K | +9.6% |
| 4 Bedrooms | $500K | $530K | +6.0% |
| 5+ Bedrooms | $644.5K | $575K | -10.8% |
Summary: 08053 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.4%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 10.8%.
Housing Supply in 08053, NJ
How many homes are available in 08053, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 150 | 129 | -14.0% |
Summary: The 08053 real estate market had 129 homes for sale in November 2024, a 14.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 30 | 23 | -23.3% |
| 3 Bedrooms | 64 | 55 | -14.1% |
| 4 Bedrooms | 48 | 40 | -16.7% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 08053 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 23.3%, 3 bedroom homes decreased by 14.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 52 | 38 | -26.9% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08053, you could pay more than the asking price. 57.9% of homes here sold above asking price last month.
Summary: A total of 38 homes were sold or pending in 08053 in November 2024, down by 26.9% month-over-month. Of the 38 sold homes, 32% were sold under asking, 11% were sold at asking, and 58% were sold over asking.
Days on Market for 08053, NJ
How long does it take to sell a home in 08053, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 14 Days | 23 Days | +63.6% |
Summary: Homes in 08053 had an average of 23 days on market in Nov 2024, up by 63.6% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08053 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 38 homes were sold in 08053; 74% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.