$7,956 Closing Credit*
$670,000
2,441 SqFt
4 Beds
•2 Full Baths, 1 Partial
Heather A Hibbs, Listing Office: PA REO Inc
Is 08505, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 08505 has remained a Seller's Market.
Key Takeaway
08505 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08505, NJ
How much do homes in 08505, NJ cost?
Median Sold Price
$400,000
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$29,750(+8.0%)
Key Takeaway
Homes in 08505 have sold for 8% more than they did a year ago.
Summary: The median home sold price in 08505 was $400,000 in November 2024, up 8% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $260K | N/A |
| 2 Bedrooms | $290K | $325K | +12.1% |
| 3 Bedrooms | $371.2K | $397.2K | +7.0% |
| 4 Bedrooms | $512.5K | $492.5K | -3.9% |
| 5+ Bedrooms | $765K | $757.5K | -1.0% |
Summary: 08505 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 increased by 12.1%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes decreased by 1%.
Housing Supply in 08505, NJ
How many homes are available in 08505, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 55 | 52 | -5.5% |
Summary: The 08505 real estate market had 52 homes for sale in November 2024, a 5.5% decrease 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 | 15 | 12 | -20.0% |
| 3 Bedrooms | 19 | 24 | +26.3% |
| 4 Bedrooms | 17 | 13 | -23.5% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 08505 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 decreased by 20%, 3 bedroom homes increased by 26.3%, 4 bedroom homes decreased by 23.5%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 13 | -38.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08505, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 08505 in November 2024, down by 38.1% month-over-month. Of the 13 sold homes, 38% were sold under asking, 8% were sold at asking, and 54% were sold over asking.
Days on Market for 08505, NJ
How long does it take to sell a home in 08505, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 8 Days | 28 Days | +240.7% |
Summary: Homes in 08505 had an average of 28 days on market in Nov 2024, up by 240.7% compared to last year.
Breakdown of Home Sale Times
10 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 08505 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 13 homes were sold in 08505; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% 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.
The data relating to real estate for sale or rent on this web site comes in part from the IDX program of the HCMLS. Real estate listings held by brokerage firms other than this broker are marked with the HCIDX mark and the information about them includes the name of the listing broker. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) 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. Copyright © 2024 Realty Multiple Listing System, Inc. Incorporated in 1952 (aka RMLS, Hudson County MLS). All rights reserved.