Is 08830, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08830 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08830 has remained a Seller's Market.

Key Takeaway

08830 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08830, NJ

How much do homes in 08830, NJ cost?

Median Sold Price

$500,000

$367/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$55,000(+12.4%)

Key Takeaway

Homes in 08830 have sold for 12.4% more than they did a year ago.

Summary: The median home sold price in 08830 was $500,000 in October 2024, up 12.4% from last year, and the median price per square foot was $367.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $218.2K$247.5K
+13.4%
2 $307K$330.5K
+7.7%
3 $430K$502.7K
+16.9%
4 $475K$562.5K
+18.4%
5+ $630K$587K
-6.8%

Summary: 08830 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.4%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes decreased by 6.8%.

Median Sold Price Compared To Nearby Zip Codes

07001
+13.0%
08830
+12.4%
08863
+11.2%
07067
+10.5%
07095
+8.9%

Housing Supply in 08830, NJ

How many homes are available in 08830, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5562+12.7%

Summary: The 08830 real estate market had 62 homes for sale in October 2024, a 12.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 54
-20.0%
2 66
0.0%
3 2523
-8.0%
4 1522
+46.7%
5+ 47
+75.0%

Summary: The 08830 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1412-14.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08830, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in 08830 in October 2024, down by 14.3% month-over-month. Of the 12 sold homes, 33% were sold under asking, 8% were sold at asking, and 58% were sold over asking.

Days on Market for 08830, NJ

How long does it take to sell a home in 08830, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
51 Days36 Days-30.4%

Summary: Homes in 08830 had an average of 36 days on market in Oct 2024, down by 30.4% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 08830 has remained consistent over time.

Summary: During October 2024, 12 homes were sold in 08830; 42% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 08830, NJ

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