$4,513 Closing Credit*
$380,000
1,206 SqFt
3 Beds
•1 Full Bath
Robert L Krupa, Listing Office: Keller Williams - Main Street
Is 08108, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, 08108 has remained a Seller's Market.
Key Takeaway
08108 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08108, NJ
How much do homes in 08108, NJ cost?
Median Sold Price
$440,000
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$10,000(+2.3%)
Key Takeaway
Homes in 08108 have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in 08108 was $440,000 in August 2024, up 2.3% from last year, and the median price per square foot was $290.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $322K | $169.9K | -47.2% |
| 2 Bedrooms | $335K | $335K | 0.0% |
| 3 Bedrooms | $385K | $424.9K | +10.4% |
| 4 Bedrooms | $550K | $600K | +9.1% |
| 5+ Bedrooms | $557K | $363.5K | -34.7% |
Summary: 08108 housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.2%, 2 bedroom homes did not change, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 34.7%.
Housing Supply in 08108, NJ
How many homes are available in 08108, NJ?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 60 | 52 | -13.3% |
Summary: The 08108 real estate market had 52 homes for sale in August 2024, a 13.3% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 31 | 30 | -3.2% |
| 4 Bedrooms | 22 | 13 | -40.9% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The 08108 housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 40.9%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 27 | 14 | -48.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08108, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in 08108 in August 2024, down by 48.1% month-over-month. Of the 14 sold homes, 14% were sold under asking, 21% were sold at asking, and 64% were sold over asking.
Days on Market for 08108, NJ
How long does it take to sell a home in 08108, NJ?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 16 Days | 18 Days | +11.8% |
Summary: Homes in 08108 had an average of 18 days on market in Aug 2024, up by 11.8% compared to last year.
Breakdown of Home Sale Times
11 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 08108 are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 14 homes were sold in 08108; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
