$4,738 Closing Credit*
$399,000
2,109 SqFt
3 Beds
•2 Full Baths
Beth Sedeyn, Listing Office: Warner Real Estate & Auction Company
Is 08318, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$333,450
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$40,700(+13.9%)
Key Takeaway
Homes in 08318 have sold for 13.9% more than they did a year ago.
Summary: The median home sold price in 08318 was $333,450 in October 2024, up 13.9% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $220K | $185K | -15.9% |
| 3 Bedrooms | $285K | $304.9K | +7.0% |
| 4 Bedrooms | $360K | $415K | +15.3% |
| 5+ Bedrooms | $402.5K | - | N/A |
Summary: 08318 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.9%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 15.3%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 30 | +11.1% |
Summary: The 08318 real estate market had 30 homes for sale in October 2024, a 11.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 08318 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 increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08318, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 08318 in October 2024, the same as the previous month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 71 Days | +113.4% |
Summary: Homes in 08318 had an average of 71 days on market in Oct 2024, up by 113.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 08318 has remained consistent over time.
Summary: During October 2024, 4 homes were sold in 08318; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
