$10,000 Closing Credit*
$1,900,000
3,712 SqFt
8 Beds
•6 Full Baths, 2 Partial
Nechama Norman, Listing Office: EXP Realty
Is 08701, 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, 08701 has remained a Seller's Market.
Key Takeaway
08701 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08701, NJ
How much do homes in 08701, NJ cost?
Median Sold Price
$361,607
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$36,707(+11.3%)
Key Takeaway
Homes in 08701 have sold for 11.3% more than they did a year ago.
Summary: The median home sold price in 08701 was $361,607 in November 2024, up 11.3% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $145K | +11.5% |
| 2 Bedrooms | $245.8K | $249.5K | +1.5% |
| 3 Bedrooms | $555K | $586K | +5.6% |
| 4 Bedrooms | $750K | $697K | -7.1% |
| 5+ Bedrooms | $899.9K | $999.4K | +11.1% |
Summary: 08701 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 11.1%.
Housing Supply in 08701, NJ
How many homes are available in 08701, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 238 | 224 | -5.9% |
Summary: The 08701 real estate market had 224 homes for sale in November 2024, a 5.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 16 | -11.1% |
| 2 Bedrooms | 121 | 106 | -12.4% |
| 3 Bedrooms | 48 | 51 | +6.3% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 40 | 38 | -5.0% |
Summary: The 08701 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes decreased by 12.4%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 48 | 47 | -2.1% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08701, you may be able to get a good deal. 51.1% of homes here sold below asking price last month.
Summary: A total of 47 homes were sold or pending in 08701 in November 2024, down by 2.1% month-over-month. Of the 47 sold homes, 51% were sold under asking, 26% were sold at asking, and 23% were sold over asking.
Days on Market for 08701, NJ
How long does it take to sell a home in 08701, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 43 Days | 39 Days | -8.7% |
Summary: Homes in 08701 had an average of 39 days on market in Nov 2024, down by 8.7% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08701 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 47 homes were sold in 08701; 55% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 11% 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.
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.