08848 ZIP Code Housing Market
$570,000median sale price
Quick answer: The median home sale price in ZIP code 08848 is $570,000, up 26.0% year-over-year. Homes sell in an average of 44 days with 16 active listings. The market is currently a balanced market.
08848 market data
| Metric | Value |
|---|---|
| Median sale price | $570,000 |
| Median list price | $527,400 |
| Year-over-year price change | +26.0% |
| Average days on market | 44 days |
| Active inventory | 16 listings |
| Sale-to-list price ratio | 101.3% |
| Market condition | Balanced market |
Source: Redfin · Updated weekly
The 08848 zip code, located in Andover, NJ, is currently classified as a balanced market. The median sale price stands at $570,000, representing a +26.0% change year over year. Homes in this area spend an average of 44 days on the market before going under contract. There are currently 16 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 08848 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
15
Last 12 weeks
Days on market
44
Average pace
Active listings
16
Sale-to-list
101.3%
Above asking
Market trends
Market analysis for 08848
The 08848 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 101.3% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 08848 have increased +26.0% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 08848 stands at $522,664, which represents Zillow's estimate of the typical home value in the area. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
8,134
Median income
$138,614/yr
Median age
42 years
Owner-occupied
9141.0%
College grads
4474.0%
Avg commute
36.87 min
Living in 08848
Zip code 08848 is home to approximately 8,134 residents. The median household income is $138,614 per year, which shapes the types of homes and amenities available in the area. With a median age of 42 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 9141.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 4474.0% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 36.87 minutes, which is above the national average and may reflect a suburban or exurban setting where residents trade commute time for more affordable housing or larger lots. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 08848.
Frequently asked questions about 08848
What is the median home price in 08848?
The current median sale price in 08848 is $570,000, based on recent Redfin transaction data. Prices have changed +26.0% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 08848 a buyer's or seller's market?
The 08848 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 08848?
Zip code 08848 has a population of approximately 8,134 residents. The median household income is $138,614 per year. About 9141.0% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 08848?
Properties Incorporated provides comprehensive data for 08848 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 08848 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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