$4,453 Closing Credit*
$375,000
2 Beds
•1 Full Bath
Listing Office: COLDWELL BANKER REALTY
Is 08822, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 08822 has remained a Seller's Market.
Key Takeaway
08822 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08822, NJ
How much do homes in 08822, NJ cost?
Median Sold Price
$575,000
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$65,125(+12.8%)
Key Takeaway
Homes in 08822 have sold for 12.8% more than they did a year ago.
Summary: The median home sold price in 08822 was $575,000 in December 2024, up 12.8% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $227.5K | $260K | +14.3% |
| 2 Bedrooms | $382.5K | $405K | +5.9% |
| 3 Bedrooms | $501K | $520K | +3.8% |
| 4 Bedrooms | $725K | $800K | +10.3% |
| 5+ Bedrooms | $875K | $895K | +2.3% |
Summary: 08822 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 2.3%.
Housing Supply in 08822, NJ
How many homes are available in 08822, NJ?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 116 | 93 | -19.8% |
Summary: The 08822 real estate market had 93 homes for sale in December 2024, a 19.8% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 23 | 15 | -34.8% |
| 3 Bedrooms | 38 | 30 | -21.1% |
| 4 Bedrooms | 39 | 34 | -12.8% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The 08822 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 34.8%, 3 bedroom homes decreased by 21.1%, 4 bedroom homes decreased by 12.8%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 32 | 29 | -9.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08822, you could pay more than the asking price. 58.6% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in 08822 in December 2024, down by 9.4% month-over-month. Of the 29 sold homes, 31% were sold under asking, 10% were sold at asking, and 59% were sold over asking.
Days on Market for 08822, NJ
How long does it take to sell a home in 08822, NJ?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 113 Days | 57 Days | -48.9% |
Summary: Homes in 08822 had an average of 57 days on market in Dec 2024, down by 48.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 08822 are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 29 homes were sold in 08822; 7% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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