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 21 Days Ago

Newest Listings in 08857, NJ

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