$5,700 Closing Credit*
$480,000
2,200 SqFt
4 Beds
•2 Full Baths
Sara DiDomenico, Listing Office: Better Homes and Gardens Real Estate Maturo
Is 08054, 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, 08054 has remained a Seller's Market.
Key Takeaway
08054 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08054, NJ
How much do homes in 08054, NJ cost?
Median Sold Price
$359,980
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,980(+2.9%)
Key Takeaway
Homes in 08054 have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in 08054 was $359,980 in October 2024, up 2.9% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $203K | +9.7% |
| 2 Bedrooms | $250K | $274.9K | +10.0% |
| 3 Bedrooms | $422.5K | $396K | -6.3% |
| 4 Bedrooms | $565K | $602K | +6.5% |
| 5+ Bedrooms | $715K | $737.5K | +3.1% |
Summary: 08054 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.7%, 2 bedroom homes increased by 10%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 3.1%.
Housing Supply in 08054, NJ
How many homes are available in 08054, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 172 | 178 | +3.5% |
Summary: The 08054 real estate market had 178 homes for sale in October 2024, a 3.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 78 | 85 | +9.0% |
| 3 Bedrooms | 56 | 46 | -17.9% |
| 4 Bedrooms | 33 | 40 | +21.2% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 08054 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 9%, 3 bedroom homes decreased by 17.9%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 52 | 62 | +19.2% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08054, you could pay more than the asking price. 67.7% of homes here sold above asking price last month.
Summary: A total of 62 homes were sold or pending in 08054 in October 2024, up by 19.2% month-over-month. Of the 62 sold homes, 21% were sold under asking, 11% were sold at asking, and 68% were sold over asking.
Days on Market for 08054, NJ
How long does it take to sell a home in 08054, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 19 Days | -14.3% |
Summary: Homes in 08054 had an average of 19 days on market in Oct 2024, down by 14.3% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08054 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 62 homes were sold in 08054; 82% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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