$5,047 Closing Credit*
$425,000
1,904 SqFt
5 Beds
•2 Full Baths
Anastasia Fahey, Listing Office: AM Realty Advisors LLC
Is 08083, 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, 08083 has remained a Seller's Market.
Key Takeaway
08083 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08083, NJ
How much do homes in 08083, NJ cost?
Median Sold Price
$320,500
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$50,500(+18.7%)
Key Takeaway
Homes in 08083 have sold for 18.7% more than they did a year ago.
Summary: The median home sold price in 08083 was $320,500 in October 2024, up 18.7% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $127K | +41.1% |
| 2 Bedrooms | $192.5K | $280K | +45.5% |
| 3 Bedrooms | $257.5K | $312.5K | +21.3% |
| 4 Bedrooms | $352.5K | $365K | +3.5% |
| 5+ Bedrooms | $551K | $392.5K | -28.8% |
Summary: 08083 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.1%, 2 bedroom homes increased by 45.5%, 3 bedroom homes increased by 21.3%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 28.8%.
Median Sold Price Compared To Nearby Zip Codes
| 08083 | $270K | $320.5K | +18.7% |
| 08045 | $254K | $300K | +18.1% |
| 08049 | $270K | $315K | +16.7% |
| 08084 | $278K | $320K | +15.1% |
| 08021 | $230K | $255.2K | +11.0% |
Housing Supply in 08083, NJ
How many homes are available in 08083, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 24 | -25.0% |
Summary: The 08083 real estate market had 24 homes for sale in October 2024, a 25.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 17 | 11 | -35.3% |
| 4 Bedrooms | 8 | 4 | -50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 08083 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 decreased by 35.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 9 | -30.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08083, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in 08083 in October 2024, down by 30.8% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for 08083, NJ
How long does it take to sell a home in 08083, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 22 Days | -37.6% |
Summary: Homes in 08083 had an average of 22 days on market in Oct 2024, down by 37.6% compared to last year.
Breakdown of Home Sale Times
6 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 08083 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in 08083; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
