Is 08817, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08817 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08817 has remained a Seller's Market.

Key Takeaway

08817 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08817, NJ

How much do homes in 08817, NJ cost?

Median Sold Price

$497,250

$351/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$67,850(+15.8%)

Key Takeaway

Homes in 08817 have sold for 15.8% more than they did a year ago.

Summary: The median home sold price in 08817 was $497,250 in October 2024, up 15.8% from last year, and the median price per square foot was $351.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $130K$242.5K
+86.5%
2 $321K$366.2K
+14.1%
3 $454.2K$500K
+10.1%
4 $495K$615K
+24.2%
5+ $735.6K$830K
+12.8%

Summary: 08817 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 86.5%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 24.2%, and 5+ bedroom homes increased by 12.8%.

Median Sold Price Compared To Nearby Zip Codes

08817
+15.8%
08904
+15.2%
08837
+9.2%
08840
+5.9%

Housing Supply in 08817, NJ

How many homes are available in 08817, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
125140+12.0%

Summary: The 08817 real estate market had 140 homes for sale in October 2024, a 12.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 710
+42.9%
2 3331
-6.1%
3 4145
+9.8%
4 2027
+35.0%
5+ 2427
+12.5%

Summary: The 08817 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 42.9%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 35%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2026+30.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08817, you could pay more than the asking price. 73.1% of homes here sold above asking price last month.

Summary: A total of 26 homes were sold or pending in 08817 in October 2024, up by 30.0% month-over-month. Of the 26 sold homes, 15% were sold under asking, 12% were sold at asking, and 73% were sold over asking.

Days on Market for 08817, NJ

How long does it take to sell a home in 08817, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
33 Days39 Days+16.1%

Summary: Homes in 08817 had an average of 39 days on market in Oct 2024, up by 16.1% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08817 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 26 homes were sold in 08817; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 08817, NJ

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