$3,147 Closing Credit*
$265,000
1,224 SqFt
3 Beds
•2 Full Baths
Patricia Settar, Listing Office: BHHS Fox & Roach-Mullica Hill South
Is 08085, 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, 08085 has remained a Seller's Market.
Key Takeaway
08085 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08085, NJ
How much do homes in 08085, NJ cost?
Median Sold Price
$410,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,000(+9.3%)
Key Takeaway
Homes in 08085 have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in 08085 was $410,000 in October 2024, up 9.3% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $299.9K | $305.5K | +1.9% |
| 3 Bedrooms | $330K | $350K | +6.1% |
| 4 Bedrooms | $515K | $548K | +6.4% |
| 5+ Bedrooms | $630K | $640K | +1.6% |
Summary: 08085 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 1.9%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 1.6%.
Housing Supply in 08085, NJ
How many homes are available in 08085, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 71 | 68 | -4.2% |
Summary: The 08085 real estate market had 68 homes for sale in October 2024, a 4.2% decrease 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 38 | 39 | +2.6% |
| 4 Bedrooms | 23 | 19 | -17.4% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 08085 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 2.6%, 4 bedroom homes decreased by 17.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08085, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in 08085 in October 2024, down by 15.8% month-over-month. Of the 16 sold homes, 31% were sold under asking, 6% were sold at asking, and 63% were sold over asking.
Days on Market for 08085, NJ
How long does it take to sell a home in 08085, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 36 Days | +159.4% |
Summary: Homes in 08085 had an average of 36 days on market in Oct 2024, up by 159.4% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08085 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in 08085; 50% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
