Is 08527, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08527 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 08527 has remained a Seller's Market.

Key Takeaway

08527 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08527, NJ

How much do homes in 08527, NJ cost?

Median Sold Price

$550,000

$273/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$19,090(+3.6%)

Key Takeaway

Homes in 08527 have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in 08527 was $550,000 in December 2024, up 3.6% from last year, and the median price per square foot was $273.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $202.5K$233.5K
+15.3%
2 $332.9K$360K
+8.1%
3 $520K$530.5K
+2.0%
4 $668.5K$737K
+10.2%
5+ $795K$851K
+7.0%

Summary: 08527 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.3%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 7%.

Median Sold Price Compared To Nearby Zip Codes

08533
+28.3%
08510
+16.2%
08527
+3.6%
08733
+1.5%

Housing Supply in 08527, NJ

How many homes are available in 08527, NJ?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
301246-18.3%

Summary: The 08527 real estate market had 246 homes for sale in December 2024, a 18.3% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 40
-100.0%
2 7564
-14.7%
3 7355
-24.7%
4 11189
-19.8%
5+ 3838
0.0%

Summary: The 08527 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 14.7%, 3 bedroom homes decreased by 24.7%, 4 bedroom homes decreased by 19.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
6656-15.2%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08527, you may be able to get a good deal. 55.4% of homes here sold below asking price last month.

Summary: A total of 56 homes were sold or pending in 08527 in December 2024, down by 15.2% month-over-month. Of the 56 sold homes, 55% were sold under asking, 11% were sold at asking, and 34% were sold over asking.

Days on Market for 08527, NJ

How long does it take to sell a home in 08527, NJ?

Average Sale Time

Dec 2023Dec 2024CHANGE
48 Days42 Days-12.3%

Summary: Homes in 08527 had an average of 42 days on market in Dec 2024, down by 12.3% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

21 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08527 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 56 homes were sold in 08527; 52% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 11% 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 6 Days Ago

Newest Listings in 08527, NJ

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