Is 08824, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08824 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08824 has remained a Seller's Market.

Key Takeaway

08824 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08824, NJ

How much do homes in 08824, NJ cost?

Median Sold Price

$683,000

$326/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$83,000(+13.8%)

Key Takeaway

Homes in 08824 have sold for 13.8% more than they did a year ago.

Summary: The median home sold price in 08824 was $683,000 in October 2024, up 13.8% from last year, and the median price per square foot was $326.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $228.2K-
N/A
2 $460K$577.5K
+25.5%
3 $462.5K$559K
+20.9%
4 $695K$750K
+7.9%
5+ $790K$885K
+12.0%

Summary: 08824 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.5%, 3 bedroom homes increased by 20.9%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 12%.

Median Sold Price Compared To Nearby Zip Codes

08824
+13.8%
08540
+12.2%
08852
+11.5%
08902
+10.2%
08823
+10.0%

Housing Supply in 08824, NJ

How many homes are available in 08824, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3839+2.6%

Summary: The 08824 real estate market had 39 homes for sale in October 2024, a 2.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 1211
-8.3%
4 1315
+15.4%
5+ 1110
-9.1%

Summary: The 08824 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes decreased by 9.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
711+57.1%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08824, you could pay more than the asking price. 72.7% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in 08824 in October 2024, up by 57.1% month-over-month. Of the 11 sold homes, 9% were sold under asking, 18% were sold at asking, and 73% were sold over asking.

Days on Market for 08824, NJ

How long does it take to sell a home in 08824, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days35 Days+8.5%

Summary: Homes in 08824 had an average of 35 days on market in Oct 2024, up by 8.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08824 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 11 homes were sold in 08824; 45% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 9% 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 08824, NJ

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