$8,311 Closing Credit*
$699,900
2,822 SqFt
4 Beds
•2 Full Baths, 1 Partial
Michaela L Hartery, Listing Office: Hometown Real Estate Group
Is 08318, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 08318 was a Seller's Market.
Key Takeaway
08318 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 08318, NJ
How much do homes in 08318, NJ cost?
Median Sold Price
$348,500
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$55,750(+19.0%)
Key Takeaway
Homes in 08318 have sold for 19% more than they did a year ago.
Summary: The median home sold price in 08318 was $348,500 in November 2024, up 19% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $220K | $150K | -31.8% |
| 3 Bedrooms | $286.2K | $330K | +15.3% |
| 4 Bedrooms | $370K | $417.5K | +12.8% |
| 5+ Bedrooms | $402.5K | - | N/A |
Summary: 08318 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 31.8%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes did not change.
Housing Supply in 08318, NJ
How many homes are available in 08318, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 35 | +20.7% |
Summary: The 08318 real estate market had 35 homes for sale in November 2024, a 20.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 08318 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08318, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 08318 in November 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 08318, NJ
How long does it take to sell a home in 08318, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 45 Days | 49 Days | +8.1% |
Summary: Homes in 08318 had an average of 49 days on market in Nov 2024, up by 8.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08318 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in 08318; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
