Is Elmer, NJ 08318 a buyer’s or seller’s market?
Elmer is a seller’s market. With about 3.6 months of supply and 33% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 72% of U.S. ZIP codes, and #309 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 Elmer housing market right now
In the three months ending August 31, 2026, 33% of homes in Elmer, NJ 08318 sold above their list price, the typical home went under contract in 28 days and there were 3.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 37 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 37%, homes sold faster (40 days then) and the median sale price rose 5% to $357,345. Overall, Elmer is about as competitive as it was a year ago.
Within Salem County, homes here sell faster than in 75% of the county’s ZIP codes, and sell more often over asking than in 88%. On our competition score, Elmer ranks #309 of 444 NJ ZIP codes with enough sales (score 68 out of 100).
Nearby, buyers who want less competition could look at Quinton 08072 (0% sold over asking) or Alloway 08001 (0% sold over asking), while Monroeville 08343 (44% sold over asking) is even more competitive.
Run the numbers for 08318
Nearby markets
Alloway 08001Seller’s market $94 /sq ftDeepwater 08023 — /sq ftHancocks Bridge 08038 — /sq ftMonroeville 08343Seller’s market $221 /sq ft Browse all markets →Towns like Elmer nearby
Find towns like Elmer in other states →Where Elmer is
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Questions about Elmer real estate
Is Elmer a buyer’s or seller’s market?
A seller’s market: there were 3.6 months of supply in Elmer, NJ 08318 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 Elmer?
The typical home went under contract in 28 days in the latest three months.
Do homes in Elmer sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 100.9% of the list price.
What are property taxes in Elmer?
About 3.00% of a home’s value a year in Elmer Boro, Salem County, or roughly $11,996 on a $400,000 home.
What is the median home price in Elmer?
The median sale price was $357,345 in the three months ending August 31, 2026, about $198 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