$4,156 Closing Credit*
$350,000
1,444 SqFt
4 Beds
•2 Full Baths
Vincent Capriotti, Listing Office: Prime Realty Partners
Is 08109, 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, 08109 has remained a Seller's Market.
Key Takeaway
08109 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08109, NJ
How much do homes in 08109, NJ cost?
Median Sold Price
$328,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,550(+11.0%)
Key Takeaway
Homes in 08109 have sold for 11% more than they did a year ago.
Summary: The median home sold price in 08109 was $328,000 in October 2024, up 11% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $89.9K | $123K | +36.8% |
| 2 Bedrooms | $214K | $239.5K | +11.9% |
| 3 Bedrooms | $287K | $320K | +11.5% |
| 4 Bedrooms | $330K | $372.5K | +12.9% |
| 5+ Bedrooms | $366K | $390K | +6.6% |
Summary: 08109 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.8%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 6.6%.
Housing Supply in 08109, NJ
How many homes are available in 08109, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 64 | 68 | +6.3% |
Summary: The 08109 real estate market had 68 homes for sale in October 2024, a 6.3% increase 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 | 5 | 2 | -60.0% |
| 3 Bedrooms | 33 | 36 | +9.1% |
| 4 Bedrooms | 21 | 20 | -4.8% |
| 5+ Bedrooms | 4 | 9 | +125.0% |
Summary: The 08109 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 decreased by 60%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 125%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08109, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in 08109 in October 2024, up by 6.7% month-over-month. Of the 16 sold homes, 38% were sold under asking, 19% were sold at asking, and 44% were sold over asking.
Days on Market for 08109, NJ
How long does it take to sell a home in 08109, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 21 Days | -23.7% |
Summary: Homes in 08109 had an average of 21 days on market in Oct 2024, down by 23.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08109 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in 08109; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
