Is 08853, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08853 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 08853 was a Buyer's Market.

Key Takeaway

08853 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08853, NJ

How much do homes in 08853, NJ cost?

Median Sold Price

$707,500

$251/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$268,500(-27.5%)

Key Takeaway

Homes in 08853 have sold for 27.5% less than they did a month ago.

Summary: The median home sold price in 08853 was $707,500 in October 2024, down 27.5% from last month, and the median price per square foot was $251.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 -$540K
N/A
3 --
N/A
4 $976K-
N/A
5+ -$1.0M
N/A

Summary: 08853 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 08853, NJ

How many homes are available in 08853, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1722+29.4%

Summary: The 08853 real estate market had 22 homes for sale in October 2024, a 29.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 45
+25.0%
3 36
+100.0%
4 45
+25.0%
5+ 55
0.0%

Summary: The 08853 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 100%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
16+500.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08853, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 08853 in October 2024, up by 500.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for 08853, NJ

How long does it take to sell a home in 08853, NJ?

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was 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 08853 has remained consistent over time.

Summary: During October 2024, 6 homes were sold in 08853; 0% of homes were sold within 30 days, 17% 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 23 Days Ago

Newest Listings in 08853, NJ

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