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 4 Days Ago

Newest Listings in 08873, NJ

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