Is 08882, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08882 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08882 has remained a Seller's Market.

Key Takeaway

08882 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08882, NJ

How much do homes in 08882, NJ cost?

Median Sold Price

$460,000

$315/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$60,000(+15.0%)

Key Takeaway

Homes in 08882 have sold for 15% more than they did a year ago.

Summary: The median home sold price in 08882 was $460,000 in October 2024, up 15% from last year, and the median price per square foot was $315.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$350K
N/A
2 $297K$375K
+26.3%
3 $399.9K$443K
+10.8%
4 $449K$540K
+20.3%
5+ $569K$830K
+45.9%

Summary: 08882 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 26.3%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 45.9%.

Median Sold Price Compared To Nearby Zip Codes

08882
+15.0%
08872
+13.3%
08816
+9.3%

Housing Supply in 08882, NJ

How many homes are available in 08882, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6462-3.1%

Summary: The 08882 real estate market had 62 homes for sale in October 2024, a 3.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 915
+66.7%
3 2620
-23.1%
4 2319
-17.4%
5+ 68
+33.3%

Summary: The 08882 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 66.7%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes decreased by 17.4%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1615-6.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08882, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.

Summary: A total of 15 homes were sold or pending in 08882 in October 2024, down by 6.3% month-over-month. Of the 15 sold homes, 20% were sold under asking, 27% were sold at asking, and 53% were sold over asking.

Days on Market for 08882, NJ

How long does it take to sell a home in 08882, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
37 Days41 Days+9.3%

Summary: Homes in 08882 had an average of 41 days on market in Oct 2024, up by 9.3% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08882 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 15 homes were sold in 08882; 47% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 13% 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 08882, NJ

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