Is 08534, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08534 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08534 has remained a Seller's Market.

Key Takeaway

08534 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08534, NJ

How much do homes in 08534, NJ cost?

Median Sold Price

$609,500

$292/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,500(+1.2%)

Key Takeaway

Homes in 08534 have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in 08534 was $609,500 in October 2024, up 1.2% from last year, and the median price per square foot was $292.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $174K$840K
+382.8%
2 $395K$420K
+6.3%
3 $500K$559.4K
+11.9%
4 $775K$820K
+5.8%
5+ $1.0M$997.5K
-4.6%

Summary: 08534 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 382.8%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 4.6%.

Median Sold Price Compared To Nearby Zip Codes

08648
+17.1%
08618
+14.4%
08525
+2.8%
08534
+1.2%

Housing Supply in 08534, NJ

How many homes are available in 08534, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6263+1.6%

Summary: The 08534 real estate market had 63 homes for sale in October 2024, a 1.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1010
0.0%
3 2226
+18.2%
4 2218
-18.2%
5+ 78
+14.3%

Summary: The 08534 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 remained the same, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1412-14.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08534, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in 08534 in October 2024, down by 14.3% month-over-month. Of the 12 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for 08534, NJ

How long does it take to sell a home in 08534, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
13 Days30 Days+117.4%

Summary: Homes in 08534 had an average of 30 days on market in Oct 2024, up by 117.4% compared to last year.

Breakdown of Home Sale Times

10 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 08534 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 12 homes were sold in 08534; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% 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 21 Days Ago

Newest Listings in 08534, NJ

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