$8,905 Closing Credit*
$749,900
3,249 SqFt
4 Beds
•3 Full Baths
Kimberly Coppola, Listing Office: Keller Williams Premier
Is 08501, 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, 08501 has remained a Seller's Market.
Key Takeaway
08501 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08501, NJ
How much do homes in 08501, NJ cost?
Median Sold Price
$686,000
$276/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$136,000(+24.7%)
Key Takeaway
Homes in 08501 have sold for 24.7% more than they did a year ago.
Summary: The median home sold price in 08501 was $686,000 in October 2024, up 24.7% from last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $152.5K | N/A |
| 2 Bedrooms | $505K | $540K | +6.9% |
| 3 Bedrooms | $500K | $585K | +17.0% |
| 4 Bedrooms | $740K | $760K | +2.7% |
| 5+ Bedrooms | $840K | $1.0M | +25.6% |
Summary: 08501 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 increased by 6.9%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 25.6%.
Housing Supply in 08501, NJ
How many homes are available in 08501, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 35 | 0.0% |
Summary: The 08501 real estate market had 35 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 14 | 13 | -7.1% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The 08501 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 200%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 9 | +80.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08501, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 08501 in October 2024, up by 80.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.
Days on Market for 08501, NJ
How long does it take to sell a home in 08501, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 26 Days | -0.3% |
Summary: Homes in 08501 had an average of 26 days on market in Oct 2024, down by 0.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08501 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in 08501; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.