$2,672 Closing Credit*
$225,000
1,161 SqFt
2 Beds
•1 Full Bath, 1 Partial
Donna Spagnoli, Listing Office: BHHS Fox & Roach-Center City Walnut
Is 08071, 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, 08071 has remained a Seller's Market.
Key Takeaway
08071 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08071, NJ
How much do homes in 08071, NJ cost?
Median Sold Price
$328,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$23,000(+7.5%)
Key Takeaway
Homes in 08071 have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in 08071 was $328,000 in October 2024, up 7.5% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147K | $172K | +17.0% |
| 2 Bedrooms | $227K | $229K | +0.9% |
| 3 Bedrooms | $308K | $339.2K | +10.1% |
| 4 Bedrooms | $357.2K | $359K | 0.5% |
| 5+ Bedrooms | $365K | $517.4K | +41.8% |
Summary: 08071 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17%, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 41.8%.
Housing Supply in 08071, NJ
How many homes are available in 08071, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 35 | +9.4% |
Summary: The 08071 real estate market had 35 homes for sale in October 2024, a 9.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 13 | 18 | +38.5% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 08071 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 remained the same, 3 bedroom homes increased by 38.5%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08071, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 08071 in October 2024, down by 22.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for 08071, NJ
How long does it take to sell a home in 08071, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 7 Days | 22 Days | +185.7% |
Summary: Homes in 08071 had an average of 22 days on market in Oct 2024, up by 185.7% compared to last year.
Breakdown of Home Sale Times
5 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 08071 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in 08071; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
