$10,000 Closing Credit*
$1,150,000
2,180 SqFt
4 Beds
•1 Full Bath, 1 Partial
Ingela Kostenbader, Listing Office: Queenston Realty, LLC
Is 08540, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$846,666
$373/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$92,047(+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 $846,666 in October 2024, up 12.2% from last year, and the median price per square foot was $373.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $197.5K | $210K | +6.3% |
| 2 Bedrooms | $464K | $545K | +17.5% |
| 3 Bedrooms | $661K | $717.5K | +8.5% |
| 4 Bedrooms | $1.0M | $1.1M | +8.0% |
| 5+ Bedrooms | $1.8M | $1.9M | +4.7% |
Summary: 08540 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 4.7%.
Median Sold Price Compared To Nearby Zip Codes
| 08540 | $754.6K | $846.6K | +12.2% |
| 08558 | $952K | $985K | +3.5% |
| 08542 | $1.0M | $855K | -20.5% |
Housing Supply in 08540, NJ
How many homes are available in 08540, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 171 | 179 | +4.7% |
Summary: The 08540 real estate market had 179 homes for sale in October 2024, a 4.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 4 | -33.3% |
| 2 Bedrooms | 25 | 26 | +4.0% |
| 3 Bedrooms | 39 | 35 | -10.3% |
| 4 Bedrooms | 56 | 64 | +14.3% |
| 5+ Bedrooms | 45 | 50 | +11.1% |
Summary: The 08540 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 4%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 42 | +31.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08540, you could pay more than the asking price. 59.5% of homes here sold above asking price last month.
Summary: A total of 42 homes were sold or pending in 08540 in October 2024, up by 31.3% month-over-month. Of the 42 sold homes, 31% were sold under asking, 10% were sold at asking, and 60% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 62 Days | 31 Days | -50.5% |
Summary: Homes in 08540 had an average of 31 days on market in Oct 2024, down by 50.5% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 42 homes were sold in 08540; 60% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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