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 November 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

$507,790

$349/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$77,333(+18.0%)

Key Takeaway

Homes in 08817 have sold for 18% more than they did a year ago.

Summary: The median home sold price in 08817 was $507,790 in November 2024, up 18% from last year, and the median price per square foot was $349.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $130K$242.5K
+86.5%
2 $325K$385K
+18.5%
3 $455K$505.5K
+11.1%
4 $495K$615K
+24.2%
5+ $745K$852.5K
+14.4%

Summary: 08817 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 86.5%, 2 bedroom homes increased by 18.5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 24.2%, and 5+ bedroom homes increased by 14.4%.

Median Sold Price Compared To Nearby Zip Codes

08817
+18.0%
08904
+16.1%
08840
+12.9%
08837
+7.4%

Housing Supply in 08817, NJ

How many homes are available in 08817, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
126118-6.3%

Summary: The 08817 real estate market had 118 homes for sale in November 2024, a 6.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 86
-25.0%
2 2725
-7.4%
3 4437
-15.9%
4 2221
-4.5%
5+ 2529
+16.0%

Summary: The 08817 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes decreased by 15.9%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 16%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2822-21.4%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

14 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. 63.6% of homes here sold above asking price last month.

Summary: A total of 22 homes were sold or pending in 08817 in November 2024, down by 21.4% month-over-month. Of the 22 sold homes, 23% were sold under asking, 14% were sold at asking, and 64% 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

Nov 2023Nov 2024CHANGE
49 Days31 Days-36.6%

Summary: Homes in 08817 had an average of 31 days on market in Nov 2024, down by 36.6% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 November 2024, 22 homes were sold in 08817; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 5% 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 22 Days Ago

Newest Listings in 08817, NJ

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