$7,422 Closing Credit*
$625,000
2,370 SqFt
4 Beds
•2 Full Baths, 1 Partial
Joe DeLorenzo, Listing Office: RE/MAX of Princeton
Is 08691, 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, 08691 has remained a Seller's Market.
Key Takeaway
08691 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08691, NJ
How much do homes in 08691, NJ cost?
Median Sold Price
$665,000
$306/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$115,000(+20.9%)
Key Takeaway
Homes in 08691 have sold for 20.9% more than they did a year ago.
Summary: The median home sold price in 08691 was $665,000 in October 2024, up 20.9% from last year, and the median price per square foot was $306.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265.5K | $275K | +3.6% |
| 2 Bedrooms | $365K | $385K | +5.5% |
| 3 Bedrooms | $558K | $652K | +16.8% |
| 4 Bedrooms | $845K | $940K | +11.2% |
| 5+ Bedrooms | $1.0M | $900K | -17.1% |
Summary: 08691 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 16.8%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes decreased by 17.1%.
Housing Supply in 08691, NJ
How many homes are available in 08691, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 66 | 73 | +10.6% |
Summary: The 08691 real estate market had 73 homes for sale in October 2024, a 10.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 16 | 21 | +31.3% |
| 3 Bedrooms | 17 | 22 | +29.4% |
| 4 Bedrooms | 25 | 23 | -8.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 08691 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 31.3%, 3 bedroom homes increased by 29.4%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 20 | +33.3% |
Asking Price vs. Sold Price
8 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 08691, you could pay more than the asking price. 55% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in 08691 in October 2024, up by 33.3% month-over-month. Of the 20 sold homes, 40% were sold under asking, 5% were sold at asking, and 55% were sold over asking.
Days on Market for 08691, NJ
How long does it take to sell a home in 08691, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 42 Days | +127.1% |
Summary: Homes in 08691 had an average of 42 days on market in Oct 2024, up by 127.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08691 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 08691; 55% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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