Is 08512, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08512 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 08512 was a Seller's Market.

Key Takeaway

08512 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 08512, NJ

How much do homes in 08512, NJ cost?

Median Sold Price

$656,000

$285/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$31,000(+5.0%)

Key Takeaway

Homes in 08512 have sold for 5% more than they did a year ago.

Summary: The median home sold price in 08512 was $656,000 in October 2024, up 5% from last year, and the median price per square foot was $285.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $207K$204K
-1.4%
2 $450.5K$321.5K
-28.6%
3 $600K$644K
+7.3%
4 $812K$855K
+5.3%
5+ $1.1M$1.2M
+9.1%

Summary: 08512 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.4%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 9.1%.

Median Sold Price Compared To Nearby Zip Codes

08550
+15.6%
08536
+14.4%
08520
+12.0%
08810
+8.4%
08512
+5.0%

Housing Supply in 08512, NJ

How many homes are available in 08512, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
29290.0%

Summary: The 08512 real estate market had 29 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 711
+57.1%
3 45
+25.0%
4 1211
-8.3%
5+ 62
-66.7%

Summary: The 08512 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 57.1%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
104-60.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08512, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 08512 in October 2024, down by 60.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.

Days on Market for 08512, NJ

How long does it take to sell a home in 08512, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
39 Days50 Days+29.2%

Summary: Homes in 08512 had an average of 50 days on market in Oct 2024, up by 29.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08512 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in 08512; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 08512, NJ

Nearby Markets to 08512, NJ