Is Rio Grande, NJ 08242 a buyer’s or seller’s market?
Rio Grande is a balanced market. With about 4.4 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 63% of U.S. ZIP codes, and #358 of 444 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Rio Grande housing market right now
In the three months ending August 31, 2026, 33% of homes in Rio Grande, NJ 08242 sold above their list price, the typical home went under contract in 36 days and there were 4.4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 19 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 18%, homes sold faster (68 days then) and the median sale price rose 2% to $465,888. Overall, Rio Grande is more competitive than a year ago, so tougher for buyers.
Within Cape May County, homes here sell faster than in 83% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county. On our competition score, Rio Grande ranks #358 of 444 NJ ZIP codes with enough sales (score 60 out of 100).
Nearby, buyers who want less competition could look at Stone Harbor 08247 (0% sold over asking) or Cape May Point 08212 (0% sold over asking).
Run the numbers for 08242
Nearby markets
Avalon 08202Seller’s market $1,427 /sq ftCape May 08204Seller’s market $536 /sq ftCape May Court House 08210Seller’s market $283 /sq ftCape May Point 08212Seller’s market $973 /sq ft Browse all markets →Towns like Rio Grande nearby
Find towns like Rio Grande in other states →Where Rio Grande is
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Questions about Rio Grande real estate
Is Rio Grande a buyer’s or seller’s market?
A balanced market: there were 4.4 months of supply in Rio Grande, NJ 08242 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Rio Grande?
The typical home went under contract in 36 days in the latest three months.
Do homes in Rio Grande sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 100.1% of the list price.
What are property taxes in Rio Grande?
About 0.88% of a home’s value a year in Cape May County, where towns range from 0.35% to 1.58%, or roughly $3,512 on a $400,000 home.
What is the median home price in Rio Grande?
The median sale price was $465,888 in the three months ending August 31, 2026, about $221 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology