$4,630 Closing Credit*
$389,900
2,016 SqFt
Thomas M Santoro Jr., Listing Office: Keyvest, LLC
Is 08638, 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, 08638 has remained a Seller's Market.
Key Takeaway
08638 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08638, NJ
How much do homes in 08638, NJ cost?
Median Sold Price
$315,000
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$45,000(+16.7%)
Key Takeaway
Homes in 08638 have sold for 16.7% more than they did a year ago.
Summary: The median home sold price in 08638 was $315,000 in October 2024, up 16.7% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $169K | +2.4% |
| 2 Bedrooms | $229K | $215K | -6.1% |
| 3 Bedrooms | $262.4K | $317.5K | +21.0% |
| 4 Bedrooms | $327.4K | $377.5K | +15.3% |
| 5+ Bedrooms | $270K | $340K | +25.9% |
Summary: 08638 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes increased by 21%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes increased by 25.9%.
Housing Supply in 08638, NJ
How many homes are available in 08638, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 83 | 71 | -14.5% |
Summary: The 08638 real estate market had 71 homes for sale in October 2024, a 14.5% decrease 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 | 11 | 11 | 0.0% |
| 3 Bedrooms | 37 | 33 | -10.8% |
| 4 Bedrooms | 35 | 27 | -22.9% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 08638 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 decreased by 10.8%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 19 | -5.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08638, you could pay more than the asking price. 57.9% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in 08638 in October 2024, down by 5.0% month-over-month. Of the 19 sold homes, 37% were sold under asking, 5% were sold at asking, and 58% were sold over asking.
Days on Market for 08638, NJ
How long does it take to sell a home in 08638, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 41 Days | 27 Days | -34.6% |
Summary: Homes in 08638 had an average of 27 days on market in Oct 2024, down by 34.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08638 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in 08638; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.