Is 08215, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08215 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 08215 has remained a Seller's Market.

Key Takeaway

08215 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08215, NJ

How much do homes in 08215, NJ cost?

Median Sold Price

$367,000

$176/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$17,000(+4.9%)

Key Takeaway

Homes in 08215 have sold for 4.9% more than they did a month ago.

Summary: The median home sold price in 08215 was $367,000 in October 2024, up 4.9% from last month, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $275K$152.5K
-44.5%
3 $380K$367K
-3.4%
4 $350K$570K
+62.9%
5+ $470K-
N/A

Summary: 08215 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 44.5%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 62.9%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

08215
+4.9%
08241
-48.5%

Housing Supply in 08215, NJ

How many homes are available in 08215, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7467-9.5%

Summary: The 08215 real estate market had 67 homes for sale in October 2024, a 9.5% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 86
-25.0%
3 4743
-8.5%
4 1315
+15.4%
5+ 63
-50.0%

Summary: The 08215 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 25%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2026+30.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08215, you may be able to get a good deal. 36.8% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in 08215 in October 2024, up by 30.0% month-over-month. Of the 19 sold homes, 37% were sold under asking, 26% were sold at asking, and 37% were sold over asking.

Days on Market for 08215, NJ

How long does it take to sell a home in 08215, NJ?

Average Sale Time

Sep 2024Oct 2024CHANGE
59 Days23 Days-59.8%

Summary: Homes in 08215 had an average of 23 days on market in Oct 2024, down by 59.8% compared to last month.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08215 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 26 homes were sold in 08215; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 08215, NJ

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