$3,266 Closing Credit*
$275,000
2 Beds
•1 Full Bath
Listing Office: RE/MAX DIAMOND REALTORS
Is 08823, 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, 08823 has remained a Seller's Market.
Key Takeaway
08823 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08823, NJ
How much do homes in 08823, NJ cost?
Median Sold Price
$386,000
$301/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,000(+10.0%)
Key Takeaway
Homes in 08823 have sold for 10% more than they did a year ago.
Summary: The median home sold price in 08823 was $386,000 in October 2024, up 10% from last year, and the median price per square foot was $301.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.7K | $202K | +20.4% |
| 2 Bedrooms | $310K | $365K | +17.8% |
| 3 Bedrooms | $485K | $480.5K | -0.9% |
| 4 Bedrooms | $760K | $725.5K | -4.5% |
| 5+ Bedrooms | $1.0M | $1.0M | -1.1% |
Summary: 08823 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.4%, 2 bedroom homes increased by 17.8%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 1.1%.
Housing Supply in 08823, NJ
How many homes are available in 08823, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 32 | +6.7% |
Summary: The 08823 real estate market had 32 homes for sale in October 2024, a 6.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 19 | 21 | +10.5% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 08823 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08823, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 08823 in October 2024, down by 22.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.
Days on Market for 08823, NJ
How long does it take to sell a home in 08823, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 6 Days | 77 Days | +1191.7% |
Summary: Homes in 08823 had an average of 77 days on market in Oct 2024, up by 1191.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 08823 has remained consistent over time.
Summary: During October 2024, 7 homes were sold in 08823; 0% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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