$3,551 Closing Credit*
$299,000
1,728 SqFt
Stephanie June Wheeler, Listing Office: HOF Realty
Is 08059, 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, 08059 has remained a Seller's Market.
Key Takeaway
08059 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08059, NJ
How much do homes in 08059, NJ cost?
Median Sold Price
$300,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$30,000(+11.1%)
Key Takeaway
Homes in 08059 have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in 08059 was $300,000 in October 2024, up 11.1% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $211K | $241K | +14.2% |
| 3 Bedrooms | $282.5K | $300K | +6.2% |
| 4 Bedrooms | $304.2K | $342.5K | +12.6% |
| 5+ Bedrooms | $265K | $710K | +167.9% |
Summary: 08059 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 14.2%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 167.9%.
Housing Supply in 08059, NJ
How many homes are available in 08059, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Summary: The 08059 real estate market had 16 homes for sale in October 2024, a 6.7% 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 | 7 | 4 | -42.9% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08059 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 decreased by 42.9%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08059, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 08059 in October 2024, down by 16.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for 08059, NJ
How long does it take to sell a home in 08059, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 26 Days | +89.5% |
Summary: Homes in 08059 had an average of 26 days on market in Oct 2024, up by 89.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08059 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in 08059; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
