The 08104 zip code market may be experiencing an extended pullback as sales slumped again this week by 11.1% to eight homes sold over the last 30 days. The median sales price dropped to $22,252 over the latest reporting period for the 08104 zip code, down from $22,505. With a downward trend in sales numbers and 11 months of inventory still left to work through, the 08104 zip code is a definite buyer's market.
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Home sales in the 08104 zip code market dipped below its average sales volume for the prior 12-month period. In this week's report, they fell 25.0% to nine homes sold over the last 30 days. On the other hand, the close-by 19147 zip code registered 61 homes sold in the same period, the most of all surrounding zip codes. Potential buyers should note that prices went up in the 08104 zip code, with the median for this period rising from $22,252 to $22,505. The 08104 zip code is a strong buyer's market, due to a big nine months of inventory left and aided by the dip in sales.
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08104 is a larger than average zip code in New Jersey with a population of 23,487 residents, and it has a much higher than average density compared to the rest of the state, with 7,977.7 people per square mile. The 08104 zip code is an area where most people lease the homes they live in, with a renting ratio of 54.7%. The top school in the zip code is Clementon Elementary School.
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Hitting a record low dating back to September, nine homes were sold in the 08104 zip code market over the last 30 days. This represents a 25.0% drop in sales activity. During the same time frame, 19147 had the most of any other neighboring zip codes with 64 sales. Naturally, as sales reached a bottom, the amount of available homes increased, reaching a volume of 11 months of inventory, its highest point since September. The downward trend in sales numbers and the high inventory indicate that the 08104 zip code is still a definite buyer's market.
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The 08104 zip code market saw seven homes go under contract and failed to break out of an emerging downward trend. Along with that, total home sales fell to 12 over the last 30 days. Prices are rising in the 08104 zip code, and the median sales price this period increased from $21,000 to $22,400. The 08104 zip code is a solid buyer's market with eight months of inventory to choose from, aided by the downturn in contracts.
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The 08104 zip code market slowed this week but was still better than normal as sales slid 17.6% to 14 homes sold over the last 30 days. Within the same time frame, the 19148 zip code had 66 sales, the most of all zip codes in the area. The median sales price dropped to $21,000 over the latest reporting period for the 08104 zip code, down from $22,000. With decreasing sales and the availability of seven months of inventory, the 08104 zip code is a strong buyer's market.
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Over the last 30 days, a confirmed upward trend of new sellers coming into the 08104 zip code market continued, with 13 listings in this week's report. Meanwhile, sales remained flat, with 16 homes selling during the same period. However, even as new listings came into the market, months of inventory continued to fall, trending downwards for eight weeks to reach six.
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In this week's report, the number of homes sold in the 08104 zip code market fell to 16 over the past 30 days, a decrease of 5.9% from last week's report, but still above the monthly average. In comparison, the nearby 19148 zip code had 51 sales in the same time frame, the most of all neighboring zip codes. Potential buyers should note that prices went up in the 08104 zip code, with the median for this period rising from $21,500 to $22,449. With decreasing sales and the availability of seven months of inventory, the 08104 zip code is a solid buyer's market.
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Over the last 30 days, the sale of 16 homes took place in the 08104 zip code market. This shows a 6.7% jump from the prior period and the continuation of an established upward trend. Potential buyers should note that prices are coming down in the 08104 zip code, and for this period the median sales price slid from $21,500 to $20,750. The 08104 zip code is a still strong buyer's market with seven months of remaining inventory, even with the rising sales numbers.
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08104 is a zip code in New Jersey. It's much less affluent than average and the cost of living is much less expensive compared to the rest of the state, with a median income of $29,314 per household and cost of living adjustment score of 89.4. The 08104 zip code is made up of homes that are older than most with a median of 62 years. Topping the list of best schools in the zip code is Clementon Elementary School.
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