$5,344 Closing Credit*
$450,000
912 SqFt
3 Beds
•1 Full Bath
Listing Office: KELLER WILLIAMS ELITE REALTORS
Is 08840, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 08840 has remained a Seller's Market.
Key Takeaway
08840 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08840, NJ
How much do homes in 08840, NJ cost?
Median Sold Price
$660,000
$394/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$75,500(+12.9%)
Key Takeaway
Homes in 08840 have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in 08840 was $660,000 in November 2024, up 12.9% from last year, and the median price per square foot was $394.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $251K | $295K | +17.5% |
| 2 Bedrooms | $360K | $440K | +22.2% |
| 3 Bedrooms | $575K | $625K | +8.7% |
| 4 Bedrooms | $657.5K | $767.5K | +16.7% |
| 5+ Bedrooms | $863.6K | $790K | -8.5% |
Summary: 08840 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.5%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 8.5%.
Housing Supply in 08840, NJ
How many homes are available in 08840, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 49 | 50 | +2.0% |
Summary: The 08840 real estate market had 50 homes for sale in November 2024, a 2.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 8 | +60.0% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 17 | 18 | +5.9% |
| 5+ Bedrooms | 10 | 7 | -30.0% |
Summary: The 08840 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 60%, 3 bedroom homes remained the same, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 10 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08840, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 08840 in November 2024, down by 33.3% month-over-month. Of the 10 sold homes, 10% were sold under asking, 10% were sold at asking, and 80% were sold over asking.
Days on Market for 08840, NJ
How long does it take to sell a home in 08840, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 21 Days | -40.5% |
Summary: Homes in 08840 had an average of 21 days on market in Nov 2024, down by 40.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08840 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in 08840; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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