$4,453 Closing Credit*
$375,000
1 Bed
•1 Full Bath, 1 Partial
Patricia A O'Donnell, 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 October 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
$441,500
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,400(+0.5%)
Key Takeaway
Homes in 08108 have sold for 0.5% more than they did a year ago.
Summary: The median home sold price in 08108 was $441,500 in October 2024, up 0.5% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $322K | $169.9K | -47.2% |
| 2 Bedrooms | $325K | $335K | +3.1% |
| 3 Bedrooms | $392.5K | $415K | +5.7% |
| 4 Bedrooms | $550K | $563K | +2.4% |
| 5+ Bedrooms | $559K | $440K | -21.3% |
Summary: 08108 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.2%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 21.3%.
Housing Supply in 08108, NJ
How many homes are available in 08108, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 58 | 64 | +10.3% |
Summary: The 08108 real estate market had 64 homes for sale in October 2024, a 10.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 35 | 35 | 0.0% |
| 4 Bedrooms | 13 | 19 | +46.2% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The 08108 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 15 | -16.7% |
Asking Price vs. Sold Price
3 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. 60% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in 08108 in October 2024, down by 16.7% month-over-month. Of the 15 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 29 Days | +32.4% |
Summary: Homes in 08108 had an average of 29 days on market in Oct 2024, up by 32.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 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 October 2024, 15 homes were sold in 08108; 60% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
