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 21 Days Ago

Newest Listings in 08882, NJ

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