Is 08884, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 08884 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 08884 has remained a Seller's Market.

Key Takeaway

08884 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 08884, NJ

How much do homes in 08884, NJ cost?

Median Sold Price

$510,000

$340/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$85,000(+20.0%)

Key Takeaway

Homes in 08884 have sold for 20% more than they did a year ago.

Summary: The median home sold price in 08884 was $510,000 in October 2024, up 20% from last year, and the median price per square foot was $340.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $150K$177.6K
+18.4%
2 $290K$350K
+20.7%
3 $450K$510K
+13.3%
4 $460K$540K
+17.4%
5+ $845K$882.5K
+4.4%

Summary: 08884 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.4%, 2 bedroom homes increased by 20.7%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 4.4%.

Median Sold Price Compared To Nearby Zip Codes

08884
+20.0%
08831
+18.0%
08816
+9.3%
08857
+6.5%

Housing Supply in 08884, NJ

How many homes are available in 08884, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2327+17.4%

Summary: The 08884 real estate market had 27 homes for sale in October 2024, a 17.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 23
+50.0%
2 511
+120.0%
3 107
-30.0%
4 55
0.0%
5+ 11
0.0%

Summary: The 08884 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 120%, 3 bedroom homes decreased by 30%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
47+75.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 08884, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in 08884 in October 2024, up by 75.0% month-over-month. Of the 7 sold homes, 14% were sold under asking, 14% were sold at asking, and 71% were sold over asking.

Days on Market for 08884, NJ

How long does it take to sell a home in 08884, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
33 Days31 Days-7.6%

Summary: Homes in 08884 had an average of 31 days on market in Oct 2024, down by 7.6% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 08884 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 7 homes were sold in 08884; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% 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 08884, NJ

Nearby Markets to 08884, NJ