08738 Housing Market Report February 2025•Ocean County, New Jersey

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Housing Prices in 08738, NJ

How much do homes in 08738, NJ cost?

Housing Market Conditions

Is 08738, NJ a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

08738 is a Neutral Market

Difference Since February 2024

At the same time last year, 08738 was a Buyer's Market.

Insight

08738 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$2,370,500$939/SqFt
-$116,500
-4.7%

Based on all homes sold in the last 12 months

Insight

Homes in 08738 have sold for 4.7% less than they did a year ago.

Summary: The median home sold price in 08738 was $2,370,500 in February 2025, down 4.7% from last year, and the median price per square foot was $939.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
08742
+12.8%
08723
+9.7%
08738
-4.7%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1-$665K
N/A
2$975K$609K
-37.5%
3$1.5M$990K
-34.4%
4$1.4M$2.5M
+75.4%
5$3.2M$3.5M
+9.5%

Summary: 08738 housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -37.5%. The home price for 3 bedroom homes decreased by -34.4%. The home price for 4 bedroom homes increased by +75.4%. The home price for 5 bedroom homes increased by +9.5%.

Housing supply in 08738, NJ

How many homes are available in 08738, NJ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
21Last MonthFeb 2025
212 months agoJan 2025
0.0 %
Change MoMJan – Feb

Summary: The 08738 real estate market had 21 homes for sale in Feb 2025, the same as Jan 2025

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
3Last MonthFeb 2025
22 months agoJan 2025
+50.0 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
100
0.0%
378
+14.3%
422
0.0%
211
0.0%
51110
-9.1%

Summary: 08738 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +14.3%. The inventory for 4 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 5 bedroom homes decreased by -9.1%.

Asking Price vs. Sold Price

How much do homes in 08738, NJ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price1 Home

Under Asking Price1 Home

Insight

If you're buying a home in 08738, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 08738 in February 2025, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and and 33% were sold over asking.

Days on Market for 08738, NJ

How long does it take to sell a home in 08738, NJ?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days2 Homes

Over 90 Days0 Home

Insight

Avg time on Rocket Homes in 08738 has remained consistent over time.

Summary: During February 2025, 3 homes were sold in 08738; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
47 DaysThis YearFeb 2025
71 Days1 year agoFeb 2024
-32.9 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in 08738 had an average listing age of 47 days in Feb 2025, down by 32.9% compared to the previous year.

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Newest Listings in 08738, NJ

What homes are available in 08738, NJ?

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MLS Disclaimers and Copyright

Based on information from Monmouth Ocean Regional MLS, and New Jersey MLS for the period 03/01/2023 - 03/01/2025

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2025 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/3/2025, 7:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXDisclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Information provided is for consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc. Copyright© 2025 New Jersey Multiple Listing Service, Inc. All rights reserved.

Rocket Homes Real Estate, 701 Griswold St, Suite 21, Detroit, MI 48226

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/3/2025, 7:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.