$7,422 Closing Credit*
$625,000
1,256 SqFt
3 Beds
•1 Full Bath, 1 Partial
Miklos C Foltiny, Listing Office: Keller Williams Real Estate - Princeton
Is 08542, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 08542 was a Buyer's Market.
Key Takeaway
08542 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08542, NJ
How much do homes in 08542, NJ cost?
Median Sold Price
$855,000
$509/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$220,000(-20.5%)
Key Takeaway
Homes in 08542 have sold for 20.5% less than they did a year ago.
Summary: The median home sold price in 08542 was $855,000 in October 2024, down 20.5% from last year, and the median price per square foot was $509.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $586.2K | - | N/A |
| 2 Bedrooms | $1.0M | $672.5K | -34.7% |
| 3 Bedrooms | $850K | $950K | +11.8% |
| 4 Bedrooms | $1.4M | $1.6M | +13.1% |
| 5+ Bedrooms | $1.4M | - | N/A |
Summary: 08542 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 34.7%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 08540 | $754.6K | $846.6K | +12.2% |
| 08542 | $1.0M | $855K | -20.5% |
Housing Supply in 08542, NJ
How many homes are available in 08542, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 17 | -5.6% |
Summary: The 08542 real estate market had 17 homes for sale in October 2024, a 5.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08542 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08542, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 08542 in October 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 08542, NJ
How long does it take to sell a home in 08542, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 8 Days | -63.0% |
Summary: Homes in 08542 had an average of 8 days on market in Oct 2024, down by 63% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08542 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 08542; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
