Is 08846, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08846 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08846 has remained a Seller's Market.

Key Takeaway

08846 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08846, NJ

How much do homes in 08846, NJ cost?

Median Sold Price

$460,000

$318/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$40,000(+9.5%)

Key Takeaway

Homes in 08846 have sold for 9.5% more than they did a year ago.

Summary: The median home sold price in 08846 was $460,000 in October 2024, up 9.5% from last year, and the median price per square foot was $318.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $173K$187.5K
+8.4%
2 $292.5K$370K
+26.5%
3 $400K$450K
+12.5%
4 $472.5K$555K
+17.5%
5+ $614.3K$535K
-12.9%

Summary: 08846 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.4%, 2 bedroom homes increased by 26.5%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 17.5%, and 5+ bedroom homes decreased by 12.9%.

Median Sold Price Compared To Nearby Zip Codes

08854
+12.8%
08805
+11.1%
08846
+9.5%
08812
+5.6%

Housing Supply in 08846, NJ

How many homes are available in 08846, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5458+7.4%

Summary: The 08846 real estate market had 58 homes for sale in October 2024, a 7.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 45
+25.0%
3 3031
+3.3%
4 1616
0.0%
5+ 35
+66.7%

Summary: The 08846 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 increased by 25%, 3 bedroom homes increased by 3.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1310-23.1%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08846, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 10 homes were sold or pending in 08846 in October 2024, down by 23.1% month-over-month. Of the 10 sold homes, 10% were sold under asking, 30% were sold at asking, and 60% were sold over asking.

Days on Market for 08846, NJ

How long does it take to sell a home in 08846, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
69 Days27 Days-61.0%

Summary: Homes in 08846 had an average of 27 days on market in Oct 2024, down by 61% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08846 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 10 homes were sold in 08846; 60% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% 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 08846, NJ

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