08049 Home Prices & Values

$132,900 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • -1.8% 1-year change
  • -0.3% 1-year forecast

The median home value in 08049 is $132,900. 08049 home values have declined -1.8% over the past year and Zillow predicts they will fall -0.3% within the next year. The median list price per square foot in 08049 is $100, which is lower than the Magnolia average of $100. The median price of homes currently listed in 08049 is $129,400 while the median price of homes that sold is $208,000.

Foreclosures will be a factor impacting home values in the next several years. In 08049 16.8 homes are foreclosed (per 10,000). This is lower than the Magnolia value of 46.3 and also greater than the national value of 4.4

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 08049 is 15.1%, which is higher than the national value of 6.9%. 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 08049 homeowners underwater on their mortgage is 34.8%, which is the same as Magnolia at 34.8%.

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Relative ZHVI
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08049 Market Overview

Data through Jul 31, 2014
  • $132,900 ZHVI
  • -0.3% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jul 31, 2015)
  • $129,400 Median listing price
  • No recent data Median sale price
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08049 Market Health

Data through Jul 31, 2014
  • 1.2/10 Less healthy What's This?  
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    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
  • 34.8% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 15.1% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

16.8 homes(Jun 30, 2014) 08049
46.3 homes(May 31, 2014) Magnolia
4.4 homes United States
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Nearby Zip Codes

Name Median ZHVI Name Median ZHVI Name Median ZHVI
08033 $371,600 08035 $245,700 08106 $179,300
08007 $160,900 08084 $158,300 08083 $148,600
08029 $136,800 08045 $136,000 08078 $130,400

Listings & Sales

Data through Jul 31, 2014
  • $100 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 54.3% Listings with price cut
18.2%
Sold below listing
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08049 Rentals

Data through Jul 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,454 08049
$1,428 Magnolia
$1,318 United States
  • 3.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • No data Rent list price
  • No data Rent list price / sq ft
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