$7,422 Closing Credit*
$625,000
4 Beds
•2 Full Baths, 1 Partial
Listing Office: WEICHERT REALTORS
Is 08822, 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, 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
$560,000
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$66,666(+13.5%)
Key Takeaway
Homes in 08822 have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in 08822 was $560,000 in October 2024, up 13.5% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $249.5K | +6.2% |
| 2 Bedrooms | $370K | $405K | +9.5% |
| 3 Bedrooms | $472K | $510K | +8.1% |
| 4 Bedrooms | $700K | $800K | +14.3% |
| 5+ Bedrooms | $799K | $890K | +11.4% |
Summary: 08822 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.2%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 11.4%.
Housing Supply in 08822, NJ
How many homes are available in 08822, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 133 | 130 | -2.3% |
Summary: The 08822 real estate market had 130 homes for sale in October 2024, a 2.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 26 | 23 | -11.5% |
| 3 Bedrooms | 37 | 36 | -2.7% |
| 4 Bedrooms | 47 | 50 | +6.4% |
| 5+ Bedrooms | 19 | 15 | -21.1% |
Summary: The 08822 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 11.5%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes decreased by 21.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 25 | -30.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08822, you could pay more than the asking price. 52% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in 08822 in October 2024, down by 30.6% month-over-month. Of the 25 sold homes, 40% were sold under asking, 8% were sold at asking, and 52% were sold over asking.
Days on Market for 08822, NJ
How long does it take to sell a home in 08822, NJ?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08822 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 25 homes were sold in 08822; 12% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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