$4,096 Closing Credit*
$344,900
1,408 SqFt
2 Beds
•2 Full Baths
Stephen Laszczyk, Listing Office: Home and Heart Realty
Is 08056, 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, 08056 has remained a Seller's Market.
Key Takeaway
08056 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08056, NJ
How much do homes in 08056, NJ cost?
Median Sold Price
$525,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$100,000(-16.0%)
Key Takeaway
Homes in 08056 have sold for 16% less than they did a year ago.
Summary: The median home sold price in 08056 was $525,000 in October 2024, down 16% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $295K | $365K | +23.7% |
| 3 Bedrooms | $388K | $444.1K | +14.5% |
| 4 Bedrooms | $651.2K | $700K | +7.5% |
| 5+ Bedrooms | $725K | $760K | +4.8% |
Summary: 08056 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.7%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 4.8%.
Housing Supply in 08056, NJ
How many homes are available in 08056, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 19 | +26.7% |
Summary: The 08056 real estate market had 19 homes for sale in October 2024, a 26.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 7 | 10 | +42.9% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 08056 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08056, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 08056 in October 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for 08056, NJ
How long does it take to sell a home in 08056, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 42 Days | 19 Days | -55.1% |
Summary: Homes in 08056 had an average of 19 days on market in Oct 2024, down by 55.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08056 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 08056; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
