$6,947 Closing Credit*
$585,000
3,000 SqFt
4 Beds
•2 Full Baths, 1 Partial
Jane M. Hoffman, Listing Office: Jane Hoffman Realty, LLC
Is 08086, 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, 08086 has remained a Seller's Market.
Key Takeaway
08086 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08086, NJ
How much do homes in 08086, NJ cost?
Median Sold Price
$338,750
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$38,250(+12.7%)
Key Takeaway
Homes in 08086 have sold for 12.7% more than they did a year ago.
Summary: The median home sold price in 08086 was $338,750 in November 2024, up 12.7% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $263K | $285K | +8.4% |
| 3 Bedrooms | $275K | $290K | +5.5% |
| 4 Bedrooms | $380K | $461K | +21.3% |
| 5+ Bedrooms | - | $420K | N/A |
Summary: 08086 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 8.4%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes did not change.
Housing Supply in 08086, NJ
How many homes are available in 08086, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 24 | -4.0% |
Summary: The 08086 real estate market had 24 homes for sale in November 2024, a 4.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 14 | 13 | -7.1% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 08086 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 25%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 08086, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 08086 in November 2024, up by 16.7% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for 08086, NJ
How long does it take to sell a home in 08086, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 39 Days | +46.2% |
Summary: Homes in 08086 had an average of 39 days on market in Nov 2024, up by 46.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08086 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in 08086; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
