Is 08835, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08835 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08835 has remained a Seller's Market.

Key Takeaway

08835 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08835, NJ

How much do homes in 08835, NJ cost?

Median Sold Price

$420,000

$324/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$35,000(+9.1%)

Key Takeaway

Homes in 08835 have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in 08835 was $420,000 in October 2024, up 9.1% from last year, and the median price per square foot was $324.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$197.5K
N/A
2 $342.4K$355K
+3.7%
3 $390K$431K
+10.5%
4 $385K$422K
+9.6%
5+ $455K$305K
-33.0%

Summary: 08835 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 3.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes decreased by 33%.

Median Sold Price Compared To Nearby Zip Codes

08873
+11.7%
08807
+11.4%
08844
+10.9%
08835
+9.1%

Housing Supply in 08835, NJ

How many homes are available in 08835, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4342-2.3%

Summary: The 08835 real estate market had 42 homes for sale in October 2024, a 2.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 52
-60.0%
3 1819
+5.6%
4 1918
-5.3%
5+ 13
+200.0%

Summary: The 08835 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 decreased by 60%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
139-30.8%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08835, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in 08835 in October 2024, down by 30.8% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.

Days on Market for 08835, NJ

How long does it take to sell a home in 08835, NJ?

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08835 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 9 homes were sold in 08835; 11% 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in 08835, NJ

Nearby Markets to 08835, NJ