$119,500
0.14 Acres
Land
Candace M Copsetta, Listing Office: Avalar - Atlantic Properties
Is 08071, 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, 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
$340,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$35,000(+11.5%)
Key Takeaway
Homes in 08071 have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in 08071 was $340,000 in November 2024, up 11.5% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $172K | N/A |
| 2 Bedrooms | $225K | $229K | +1.8% |
| 3 Bedrooms | $313K | $340K | +8.6% |
| 4 Bedrooms | $350K | $376K | +7.4% |
| 5+ Bedrooms | $365K | $549.9K | +50.7% |
Summary: 08071 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 50.7%.
Housing Supply in 08071, NJ
How many homes are available in 08071, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 34 | 36 | +5.9% |
Summary: The 08071 real estate market had 36 homes for sale in November 2024, a 5.9% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 17 | 18 | +5.9% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 08071 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 5.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 11 | +57.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08071, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 08071 in November 2024, up by 57.1% month-over-month. Of the 11 sold homes, 55% were sold under asking, 0% were sold at asking, and 45% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 8 Days | 30 Days | +249.5% |
Summary: Homes in 08071 had an average of 30 days on market in Nov 2024, up by 249.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 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 November 2024, 11 homes were sold in 08071; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
