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 21 Days Ago

Newest Listings in 08844, NJ

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