$2,375 Closing Credit*
$199,990
1,516 SqFt
4 Beds
•1 Full Bath, 1 Partial
Lisandra Coleman, Listing Office: NJ Elite Group LLC
Is 08611, 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, 08611 has remained a Seller's Market.
Key Takeaway
08611 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08611, NJ
How much do homes in 08611, NJ cost?
Median Sold Price
$187,500
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$33,500(+21.8%)
Key Takeaway
Homes in 08611 have sold for 21.8% more than they did a year ago.
Summary: The median home sold price in 08611 was $187,500 in November 2024, up 21.8% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $176K | +40.8% |
| 2 Bedrooms | $117.5K | $150K | +27.7% |
| 3 Bedrooms | $165.5K | $191K | +15.4% |
| 4 Bedrooms | $180K | $210K | +16.7% |
| 5+ Bedrooms | $252.4K | $215K | -14.8% |
Summary: 08611 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.8%, 2 bedroom homes increased by 27.7%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 14.8%.
Housing Supply in 08611, NJ
How many homes are available in 08611, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 69 | 61 | -11.6% |
Summary: The 08611 real estate market had 61 homes for sale in November 2024, a 11.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 9 | -25.0% |
| 3 Bedrooms | 36 | 27 | -25.0% |
| 4 Bedrooms | 16 | 20 | +25.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 08611 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 decreased by 25%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 11 | -42.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 08611, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 08611 in November 2024, down by 42.1% month-over-month. Of the 11 sold homes, 55% were sold under asking, 36% were sold at asking, and 9% were sold over asking.
Days on Market for 08611, NJ
How long does it take to sell a home in 08611, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 58 Days | +176.9% |
Summary: Homes in 08611 had an average of 58 days on market in Nov 2024, up by 176.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08611 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in 08611; 55% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
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