$5,047 Closing Credit*
$425,000
1,040 SqFt
2 Beds
•1 Full Bath, 1 Partial
Jeremiah F Kobelka, Listing Office: Real Broker, LLC
Is 08108, 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, 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
$450,000
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$16,250(+3.7%)
Key Takeaway
Homes in 08108 have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in 08108 was $450,000 in November 2024, up 3.7% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $322K | $179.9K | -44.1% |
| 2 Bedrooms | $331.7K | $342.5K | +3.2% |
| 3 Bedrooms | $392.5K | $428K | +9.0% |
| 4 Bedrooms | $540K | $533K | -1.3% |
| 5+ Bedrooms | $557K | $525.5K | -5.7% |
Summary: 08108 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 44.1%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 9%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 5.7%.
Housing Supply in 08108, NJ
How many homes are available in 08108, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 61 | 48 | -21.3% |
Summary: The 08108 real estate market had 48 homes for sale in November 2024, a 21.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 32 | 25 | -21.9% |
| 4 Bedrooms | 19 | 15 | -21.1% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 08108 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 21.9%, 4 bedroom homes decreased by 21.1%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08108, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 08108 in November 2024, down by 27.8% month-over-month. Of the 13 sold homes, 15% were sold under asking, 23% were sold at asking, and 62% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 22 Days | 23 Days | +2.2% |
Summary: Homes in 08108 had an average of 23 days on market in Nov 2024, up by 2.2% compared to last year.
Breakdown of Home Sale Times
10 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 November 2024, 13 homes were sold in 08108; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
