08901 ZIP Code Housing Market
$517,500median sale price
Quick answer: The median home sale price in ZIP code 08901 is $517,500, down 0.5% year-over-year. Homes sell in an average of 95 days with 77 active listings. The market is currently a balanced market.
08901 market data
| Metric | Value |
|---|---|
| Median sale price | $517,500 |
| Median list price | $509,500 |
| Year-over-year price change | -0.5% |
| Average days on market | 95 days |
| Active inventory | 77 listings |
| Sale-to-list price ratio | 100.6% |
| Market condition | Balanced market |
Source: Redfin · Updated weekly
The 08901 zip code, located in Andover, NJ, is currently classified as a balanced market. The median sale price stands at $517,500, representing a -0.5% change year over year. Homes in this area spend an average of 95 days on the market before going under contract. There are currently 77 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 08901 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
42
Last 12 weeks
Days on market
95
Average pace
Active listings
77
Sale-to-list
100.6%
Above asking
Market trends
Market analysis for 08901
The 08901 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 100.6% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 08901 have declined -0.5% compared to last year, which may present opportunities for buyers looking to enter the market at a lower price point. 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 08901 stands at $443,122, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $2,676 per month. This gives a price-to-rent ratio of approximately 13.8, which suggests that buying may be more cost-effective than renting in this area over the long term. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
57,263
Median income
$65,810/yr
Median age
24.4 years
Owner-occupied
2140.0%
College grads
2352.0%
Avg commute
35.49 min
Living in 08901
Zip code 08901 is home to approximately 57,263 residents. The median household income is $65,810 per year, which shapes the types of homes and amenities available in the area. With a median age of 24.4 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 2140.0% 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 2352.0% 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 35.49 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 08901.
Frequently asked questions about 08901
What is the median home price in 08901?
The current median sale price in 08901 is $517,500, based on recent Redfin transaction data. Prices have changed -0.5% 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 08901 a buyer's or seller's market?
The 08901 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 08901?
Zip code 08901 has a population of approximately 57,263 residents. The median household income is $65,810 per year. About 2140.0% 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 08901?
Properties Incorporated provides comprehensive data for 08901 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 08901 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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