Is 08844, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08844 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08844 has remained a Seller's Market.

Key Takeaway

08844 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08844, NJ

How much do homes in 08844, NJ cost?

Median Sold Price

$573,666

$306/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$56,166(+10.9%)

Key Takeaway

Homes in 08844 have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in 08844 was $573,666 in October 2024, up 10.9% from last year, and the median price per square foot was $306.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $225.5K$256K
+13.5%
2 $379K$411K
+8.4%
3 $515K$532.5K
+3.4%
4 $750K$820.5K
+9.4%
5+ $817.5K$1.0M
+29.7%

Summary: 08844 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.5%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 29.7%.

Median Sold Price Compared To Nearby Zip Codes

08869
+28.8%
08844
+10.9%
08835
+9.1%

Housing Supply in 08844, NJ

How many homes are available in 08844, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
136150+10.3%

Summary: The 08844 real estate market had 150 homes for sale in October 2024, a 10.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 59
+80.0%
2 3244
+37.5%
3 2934
+17.2%
4 5045
-10.0%
5+ 2018
-10.0%

Summary: The 08844 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 80%, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 17.2%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3637+2.8%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08844, you could pay more than the asking price. 67.6% of homes here sold above asking price last month.

Summary: A total of 37 homes were sold or pending in 08844 in October 2024, up by 2.8% month-over-month. Of the 37 sold homes, 27% were sold under asking, 5% were sold at asking, and 68% were sold over asking.

Days on Market for 08844, NJ

How long does it take to sell a home in 08844, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days44 Days+36.5%

Summary: Homes in 08844 had an average of 44 days on market in Oct 2024, up by 36.5% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 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 08844 has remained consistent over time.

Summary: During October 2024, 37 homes were sold in 08844; 5% of homes were sold within 30 days, 8% 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 08844, NJ

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