08824 Home Prices & Values

$374,900 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

  • 8.6% 1-year change
  • 2.5% 1-year forecast

The median home value in 08824 is $374,900. 08824 home values have gone up 8.6% over the past year and Zillow predicts they will rise 2.5% within the next year. The median list price per square foot in 08824 is $217, which is the same as the South Brunswick average of $217. The median price of homes currently listed in 08824 is $399,900 while the median price of homes that sold is $375,000. The median rent price in 08824 is $1,850, which is lower than the South Brunswick median of $2,000.

Foreclosures will be a factor impacting home values in the next several years. In 08824 1.4 homes are foreclosed (per 10,000). This is greater than the South Brunswick value of 1.3 and also lower than the national value of 4.3

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 08824 is 10.0%, 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 08824 homeowners underwater on their mortgage is 7.9%, which is lower than South Brunswick at 10.2%.

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Relative ZHVI
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08824 Market Overview

Data through Aug 31, 2014
  • $374,900 ZHVI
  • 2.5% 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

    (Aug 31, 2015)
  • $399,900 Median listing price
  • $375,000 Median sale price (Jul 31, 2014)
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08824 Market Health

Data through Aug 31, 2014
  • 8.3/10 Very 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
  • 7.9% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 10.0% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Zip Codes

Name Median ZHVI Name Median ZHVI Name Median ZHVI
08502 $605,600 08540 $571,700 08512 $432,700
08536 $370,500 08810 $343,600 08852 $340,900
08873 $294,500 08902 $272,600 08823 $220,600

Listings & Sales

Data through Aug 31, 2014
  • $217 Median list price / sq ft
  • $193 Median sale price / sq ft (Jul 31, 2014)
  • 37.5% Listings with price cut
15.9%
Sold below listing
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08824 Rentals

Data through Aug 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
$2,410 08824
$2,421 South Brunswick
$1,328 United States
  • 2.2 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, 2014)
  • No recent data Rent list price
  • No data Rent list price / sq ft
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