$9,369 Closing Credit*
$789,000
1,723 SqFt
3 Beds
•2 Full Baths, 1 Partial
John J. Burke III, Listing Office: Weichert Realtors - Princeton
Is 08550, 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, 08550 has remained a Seller's Market.
Key Takeaway
08550 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08550, NJ
How much do homes in 08550, NJ cost?
Median Sold Price
$988,000
$376/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$133,000(+15.6%)
Key Takeaway
Homes in 08550 have sold for 15.6% more than they did a year ago.
Summary: The median home sold price in 08550 was $988,000 in October 2024, up 15.6% from last year, and the median price per square foot was $376.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $560K | N/A |
| 2 Bedrooms | $512.5K | $550K | +7.3% |
| 3 Bedrooms | $646K | $699K | +8.2% |
| 4 Bedrooms | $950K | $1.0M | +6.3% |
| 5+ Bedrooms | $999.9K | $1.3M | +30.9% |
Summary: 08550 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 increased by 7.3%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 30.9%.
Housing Supply in 08550, NJ
How many homes are available in 08550, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 51 | 53 | +3.9% |
Summary: The 08550 real estate market had 53 homes for sale in October 2024, a 3.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 10 | 13 | +30.0% |
| 4 Bedrooms | 22 | 20 | -9.1% |
| 5+ Bedrooms | 16 | 14 | -12.5% |
Summary: The 08550 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 increased by 100%, 3 bedroom homes increased by 30%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08550, you could pay more than the asking price. 72.7% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 08550 in October 2024, down by 8.3% month-over-month. Of the 11 sold homes, 27% were sold under asking, 0% were sold at asking, and 73% were sold over asking.
Days on Market for 08550, NJ
How long does it take to sell a home in 08550, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 19 Days | +62.7% |
Summary: Homes in 08550 had an average of 19 days on market in Oct 2024, up by 62.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08550 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in 08550; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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