$4,750 Closing Credit*
$399,993
2 Beds
•2 Full Baths
Listing Office: RE/MAX OUR TOWN
Is 08807, 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, 08807 has remained a Seller's Market.
Key Takeaway
08807 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08807, NJ
How much do homes in 08807, NJ cost?
Median Sold Price
$666,500
$338/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$68,250(+11.4%)
Key Takeaway
Homes in 08807 have sold for 11.4% more than they did a year ago.
Summary: The median home sold price in 08807 was $666,500 in October 2024, up 11.4% from last year, and the median price per square foot was $338.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $245K | +22.5% |
| 2 Bedrooms | $375K | $410K | +9.3% |
| 3 Bedrooms | $555K | $581.6K | +4.8% |
| 4 Bedrooms | $756K | $821.7K | +8.7% |
| 5+ Bedrooms | $883K | $956K | +8.3% |
Summary: 08807 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.5%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 8.3%.
Housing Supply in 08807, NJ
How many homes are available in 08807, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 114 | 116 | +1.8% |
Summary: The 08807 real estate market had 116 homes for sale in October 2024, a 1.8% 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 | 18 | 16 | -11.1% |
| 3 Bedrooms | 38 | 45 | +18.4% |
| 4 Bedrooms | 34 | 33 | -2.9% |
| 5+ Bedrooms | 23 | 21 | -8.7% |
Summary: The 08807 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 decreased by 11.1%, 3 bedroom homes increased by 18.4%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 8.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 36 | +9.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08807, you could pay more than the asking price. 80.6% of homes here sold above asking price last month.
Summary: A total of 36 homes were sold or pending in 08807 in October 2024, up by 9.1% month-over-month. Of the 36 sold homes, 17% were sold under asking, 3% were sold at asking, and 81% were sold over asking.
Days on Market for 08807, NJ
How long does it take to sell a home in 08807, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 40 Days | 34 Days | -15.2% |
Summary: Homes in 08807 had an average of 34 days on market in Oct 2024, down by 15.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 08807 has remained consistent over time.
Summary: During October 2024, 36 homes were sold in 08807; 3% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% 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 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.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.