$5,047 Closing Credit*
$425,000
1,184 SqFt
3 Beds
•1 Full Bath
Listing Office: EXP REALTY, LLC
Is 08846, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $173K | $187.5K | +8.4% |
| 2 Bedrooms | $292.5K | $370K | +26.5% |
| 3 Bedrooms | $400K | $450K | +12.5% |
| 4 Bedrooms | $472.5K | $555K | +17.5% |
| 5+ Bedrooms | $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%.
Housing Supply in 08846, NJ
How many homes are available in 08846, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 54 | 58 | +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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 30 | 31 | +3.3% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 3 | 5 | +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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -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
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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 69 Days | 27 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
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.
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