$10,000 Closing Credit*
$1,195,000
2,110 SqFt
4 Beds
•2 Full Baths
Richard Samuel Gebbia II, Listing Office: Nexthome Force Realty Partners
Is 08540, 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, 08540 has remained a Seller's Market.
Key Takeaway
08540 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08540, NJ
How much do homes in 08540, NJ cost?
Median Sold Price
$844,000
$376/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$92,000(+12.2%)
Key Takeaway
Homes in 08540 have sold for 12.2% more than they did a year ago.
Summary: The median home sold price in 08540 was $844,000 in November 2024, up 12.2% from last year, and the median price per square foot was $376.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $197.5K | $210K | +6.3% |
| 2 Bedrooms | $456.5K | $540K | +18.3% |
| 3 Bedrooms | $660.5K | $732K | +10.8% |
| 4 Bedrooms | $1.0M | $1.1M | +6.5% |
| 5+ Bedrooms | $1.7M | $1.9M | +8.9% |
Summary: 08540 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 8.9%.
Median Sold Price Compared To Nearby Zip Codes
| 08540 | $752K | $844K | +12.2% |
| 08558 | $970K | $996K | +2.7% |
Housing Supply in 08540, NJ
How many homes are available in 08540, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 178 | 153 | -14.0% |
Summary: The 08540 real estate market had 153 homes for sale in November 2024, a 14.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 30 | 34 | +13.3% |
| 3 Bedrooms | 35 | 24 | -31.4% |
| 4 Bedrooms | 58 | 45 | -22.4% |
| 5+ Bedrooms | 51 | 46 | -9.8% |
Summary: The 08540 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 increased by 13.3%, 3 bedroom homes decreased by 31.4%, 4 bedroom homes decreased by 22.4%, and 5+ bedroom homes decreased by 9.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 38 | -19.1% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08540, you could pay more than the asking price. 55.3% of homes here sold above asking price last month.
Summary: A total of 38 homes were sold or pending in 08540 in November 2024, down by 19.1% month-over-month. Of the 38 sold homes, 34% were sold under asking, 11% were sold at asking, and 55% were sold over asking.
Days on Market for 08540, NJ
How long does it take to sell a home in 08540, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 45 Days | 38 Days | -14.5% |
Summary: Homes in 08540 had an average of 38 days on market in Nov 2024, down by 14.5% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08540 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 38 homes were sold in 08540; 61% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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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.