$10,000 Closing Credit*
$859,000
2,016 SqFt
3 Beds
•1 Full Bath, 1 Partial
Robin H Ervin
Is 08559, 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, 08559 was a Neutral Market.
Key Takeaway
08559 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 08559, NJ
How much do homes in 08559, NJ cost?
Median Sold Price
$678,700
$329/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$137,700(+25.5%)
Key Takeaway
Homes in 08559 have sold for 25.5% more than they did a year ago.
Summary: The median home sold price in 08559 was $678,700 in October 2024, up 25.5% from last year, and the median price per square foot was $329.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $575K | $1.6M | +189.7% |
| 2 Bedrooms | $382K | $402.5K | +5.4% |
| 3 Bedrooms | $482.5K | $708.7K | +46.9% |
| 4 Bedrooms | $650K | $650K | 0.0% |
| 5+ Bedrooms | - | $1.1M | N/A |
Summary: 08559 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 189.7%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 46.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 08559, NJ
How many homes are available in 08559, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 30 | +30.4% |
Summary: The 08559 real estate market had 30 homes for sale in October 2024, a 30.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 11 | 16 | +45.5% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 08559 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 45.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 08559, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 08559 in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 08559, NJ
How long does it take to sell a home in 08559, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 60 Days | 7 Days | -88.3% |
Summary: Homes in 08559 had an average of 7 days on market in Oct 2024, down by 88.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08559 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in 08559; 50% 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.
