$2,969 Closing Credit*
$250,000
953 SqFt
1 Bed
•1 Full Bath
Listing Office: KELLER WILLIAMS WEST MONMOUTH
Is 08816, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 08816 was a Seller's Market.
Key Takeaway
08816 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 08816, NJ
How much do homes in 08816, NJ cost?
Median Sold Price
$575,333
$322/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$48,904(+9.3%)
Key Takeaway
Homes in 08816 have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in 08816 was $575,333 in October 2024, up 9.3% from last year, and the median price per square foot was $322.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $250K | +16.3% |
| 2 Bedrooms | $335.5K | $365K | +8.8% |
| 3 Bedrooms | $474.4K | $580K | +22.2% |
| 4 Bedrooms | $650K | $712K | +9.5% |
| 5+ Bedrooms | $775K | $856.5K | +10.5% |
Summary: 08816 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.3%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 10.5%.
Housing Supply in 08816, NJ
How many homes are available in 08816, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 193 | 173 | -10.4% |
Summary: The 08816 real estate market had 173 homes for sale in October 2024, a 10.4% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 10 | -28.6% |
| 2 Bedrooms | 46 | 34 | -26.1% |
| 3 Bedrooms | 46 | 40 | -13.0% |
| 4 Bedrooms | 52 | 56 | +7.7% |
| 5+ Bedrooms | 35 | 33 | -5.7% |
Summary: The 08816 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes decreased by 26.1%, 3 bedroom homes decreased by 13%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 5.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 62 | 28 | -54.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08816, you could pay more than the asking price. 46.4% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in 08816 in October 2024, down by 54.8% month-over-month. Of the 28 sold homes, 36% were sold under asking, 18% were sold at asking, and 46% were sold over asking.
Days on Market for 08816, NJ
How long does it take to sell a home in 08816, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 40 Days | -7.4% |
Summary: Homes in 08816 had an average of 40 days on market in Oct 2024, down by 7.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08816 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 28 homes were sold in 08816; 57% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 7% 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.
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.