$10,000 Closing Credit*
$869,000
3 Beds
•2 Full Baths, 1 Partial
Listing Office: REAL
Is 08406, 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, 08406 has remained a Seller's Market.
Key Takeaway
08406 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08406, NJ
How much do homes in 08406, NJ cost?
Median Sold Price
$427,500
$354/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$61,750(+16.9%)
Key Takeaway
Homes in 08406 have sold for 16.9% more than they did a year ago.
Summary: The median home sold price in 08406 was $427,500 in October 2024, up 16.9% from last year, and the median price per square foot was $354.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $270K | $275K | +1.9% |
| 2 Bedrooms | $282K | $325K | +15.2% |
| 3 Bedrooms | $512.5K | $530K | +3.4% |
| 4 Bedrooms | $850K | $1.2M | +51.5% |
| 5+ Bedrooms | $899K | $1.2M | +41.5% |
Summary: 08406 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 51.5%, and 5+ bedroom homes increased by 41.5%.
Median Sold Price Compared To Nearby Zip Codes
| 08406 | $365.7K | $427.5K | +16.9% |
| 08401 | $211.8K | $239K | +12.8% |
Housing Supply in 08406, NJ
How many homes are available in 08406, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 95 | 91 | -4.2% |
Summary: The 08406 real estate market had 91 homes for sale in October 2024, a 4.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 11 | +10.0% |
| 2 Bedrooms | 28 | 26 | -7.1% |
| 3 Bedrooms | 19 | 19 | 0.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 25 | 23 | -8.0% |
Summary: The 08406 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 18 | +28.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08406, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 08406 in October 2024, up by 28.6% month-over-month. Of the 12 sold homes, 67% were sold under asking, 8% were sold at asking, and 25% were sold over asking.
Days on Market for 08406, NJ
How long does it take to sell a home in 08406, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 41 Days | +40.8% |
Summary: Homes in 08406 had an average of 41 days on market in Oct 2024, up by 40.8% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08406 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in 08406; 61% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.