Is 08857, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08857 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08857 has remained a Seller's Market.

Key Takeaway

08857 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08857, NJ

How much do homes in 08857, NJ cost?

Median Sold Price

$570,000

$335/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$35,000(+6.5%)

Key Takeaway

Homes in 08857 have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in 08857 was $570,000 in October 2024, up 6.5% from last year, and the median price per square foot was $335.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $302.5K$320K
+5.8%
2 $385K$430K
+11.7%
3 $515K$553.4K
+7.5%
4 $600K$662.5K
+10.4%
5+ $780K$667.5K
-14.4%

Summary: 08857 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes decreased by 14.4%.

Median Sold Price Compared To Nearby Zip Codes

08884
+20.0%
08872
+13.3%
08859
+12.3%
08857
+6.5%
07747
+6.5%

Housing Supply in 08857, NJ

How many homes are available in 08857, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
132122-7.6%

Summary: The 08857 real estate market had 122 homes for sale in October 2024, a 7.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 2821
-25.0%
3 5558
+5.5%
4 4240
-4.8%
5+ 63
-50.0%

Summary: The 08857 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4323-46.5%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08857, you could pay more than the asking price. 73.9% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in 08857 in October 2024, down by 46.5% month-over-month. Of the 23 sold homes, 22% were sold under asking, 4% were sold at asking, and 74% were sold over asking.

Days on Market for 08857, NJ

How long does it take to sell a home in 08857, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days30 Days+23.3%

Summary: Homes in 08857 had an average of 30 days on market in Oct 2024, up by 23.3% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08857 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 23 homes were sold in 08857; 65% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 4% 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 08857, NJ

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