Is 08873, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08873 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08873 has remained a Seller's Market.

Key Takeaway

08873 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08873, NJ

How much do homes in 08873, NJ cost?

Median Sold Price

$513,833

$304/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$53,833(+11.7%)

Key Takeaway

Homes in 08873 have sold for 11.7% more than they did a year ago.

Summary: The median home sold price in 08873 was $513,833 in October 2024, up 11.7% from last year, and the median price per square foot was $304.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $182K$225K
+23.6%
2 $409K$450K
+10.0%
3 $462.5K$557.5K
+20.5%
4 $565K$610K
+8.0%
5+ $711K$645K
-9.3%

Summary: 08873 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 20.5%, 4 bedroom homes increased by 8%, and 5+ bedroom homes decreased by 9.3%.

Median Sold Price Compared To Nearby Zip Codes

08880
+18.5%
08873
+11.7%
08902
+10.2%
08823
+10.0%
08835
+9.1%

Housing Supply in 08873, NJ

How many homes are available in 08873, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
167179+7.2%

Summary: The 08873 real estate market had 179 homes for sale in October 2024, a 7.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 7580
+6.7%
3 4753
+12.8%
4 3438
+11.8%
5+ 107
-30.0%

Summary: The 08873 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 6.7%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 30%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5038-24.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08873, you could pay more than the asking price. 68.4% of homes here sold above asking price last month.

Summary: A total of 38 homes were sold or pending in 08873 in October 2024, down by 24.0% month-over-month. Of the 38 sold homes, 21% were sold under asking, 11% were sold at asking, and 68% were sold over asking.

Days on Market for 08873, NJ

How long does it take to sell a home in 08873, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
26 Days48 Days+86.2%

Summary: Homes in 08873 had an average of 48 days on market in Oct 2024, up by 86.2% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 08873 has remained consistent over time.

Summary: During October 2024, 38 homes were sold in 08873; 13% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 3% 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 08873, NJ

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