$5,047 Closing Credit*
$425,000
1,050 SqFt
2 Beds
•1 Full Bath
Listing Office: EXP REALTY, LLC
Is 08863, 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, 08863 has remained a Seller's Market.
Key Takeaway
08863 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08863, NJ
How much do homes in 08863, NJ cost?
Median Sold Price
$472,500
$365/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$47,500(+11.2%)
Key Takeaway
Homes in 08863 have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in 08863 was $472,500 in October 2024, up 11.2% from last year, and the median price per square foot was $365.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $296K | N/A |
| 2 Bedrooms | $325K | $353K | +8.6% |
| 3 Bedrooms | $410K | $469.5K | +14.5% |
| 4 Bedrooms | $475K | $535K | +12.6% |
| 5+ Bedrooms | $629K | $556K | -11.6% |
Summary: 08863 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes decreased by 11.6%.
Housing Supply in 08863, NJ
How many homes are available in 08863, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 50 | +25.0% |
Summary: The 08863 real estate market had 50 homes for sale in October 2024, a 25.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 14 | +55.6% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 16 | 19 | +18.8% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 08863 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 55.6%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 13 | +333.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08863, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 08863 in October 2024, up by 333.3% month-over-month. Of the 13 sold homes, 23% were sold under asking, 15% were sold at asking, and 62% were sold over asking.
Days on Market for 08863, NJ
How long does it take to sell a home in 08863, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 31 Days | -6.9% |
Summary: Homes in 08863 had an average of 31 days on market in Oct 2024, down by 6.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08863 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in 08863; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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