Home Values

08751 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$253,000

  • -11.4% 1-year change
  • -2.1% 1-year forecast

The median home value in 08751 is $253,000. 08751 home values have declined -11.4% over the past year and Zillow predicts they will fall -2.1% within the next year. The median list price per square foot in 08751 is $256, which is higher than the Berkeley average of $168. The median price of homes currently listed in 08751 is $299,000 while the median price of homes that sold is $192,692. The median rent price in 08751 is $1,300, which is lower than the Berkeley median of $1,500.

Foreclosures will be a factor impacting home values in the next several years. In 08751 2.5 homes are foreclosed (per 10,000). This is lower than the Berkeley value of 7.1 and also lower than the national value of 3.9

With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 08751 homeowners underwater on their mortgage is 21.0%, which is higher than Berkeley at 18.9%.

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Relative ZHVI
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08751 Market Overview

Data through Feb 28, 2015
  • $253,000 ZHVI
  • -2.1% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $299,000 Median listing price
  • $192,692 Median sale price (Dec 31, 2014)
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08751 Market Health

Data through Feb 28, 2015
  • 3.1/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 21.0% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.3% US Avg)

Homes foreclosed (per 10,000)

2.5 homes 08751
7.1 homes Berkeley
3.9 homes United States
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Nearby Zip Codes

Name Median ZHVI
08738 $958,400
08735 $452,200
08752 $423,700
Name Median ZHVI
08732 $306,200
08753 $249,000
08741 $244,800
Name Median ZHVI
08723 $225,000
08721 $223,200
08740 $195,700

Listings & Sales

Data through Feb 28, 2015
  • $256 Median list price / sq ft
  • $216 Median sale price / sq ft (Dec 31, 2014)
  • 5.3% Listings with price cut
33.0%
Sold below listing
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08751 Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,566 08751
    $1,692 Berkeley
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 5.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,300 Rent list price
  • No data Rent list price / sq ft
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