Is Allentown, NJ 08501 a buyer’s or seller’s market?
Allentown is a seller’s market. With about 1.7 months of supply and 62% 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.
#28 of 110 ZIP codes in Middlesex, Monmouth, Ocean & Somerset, NJ, and #232 of 531 across all the markets we track.
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. How the heat score works
The Allentown housing market right now
In the three months ending August 31, 2026, 62% of homes in Allentown, NJ 08501 sold above their list price, the typical home went under contract in 24 days and there were 1.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 27 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (60% then), homes sold about as fast and the median sale price fell 25% to $636,225. Overall, Allentown is about as competitive as it was a year ago.
Within Monmouth County, homes here sell more slowly than in 76% of the county’s ZIP codes, and sell more often over asking than in 76%. On our competition score, Allentown ranks #96 of 444 NJ ZIP codes with enough sales (score 89 out of 100).
Nearby, buyers who want less competition could look at Deal 07723 (0% sold over asking) or Allenhurst 07711 (0% sold over asking), while Roosevelt 08555 (100% sold over asking) and Fair Haven 07704 (81% sold over asking) are even more competitive.
Run the numbers for 08501
Nearby markets
Allenhurst 07711Buyer’s market $2,523 /sq ftAllenwood 08720 — /sq ftAsbury Park 07712Seller’s market $447 /sq ftAtlantic Highlands 07716Seller’s market $474 /sq ft Browse all markets →Towns like Allentown nearby
Find towns like Allentown in other states →Where Allentown is
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Questions about Allentown real estate
Is Allentown a buyer’s or seller’s market?
A seller’s market: there were 1.7 months of supply in Allentown, NJ 08501 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 Allentown?
The typical home went under contract in 24 days in the latest three months.
Do homes in Allentown sell over asking?
62% of homes sold above their original list price, and the typical sale closed at 101.8% of the list price.
What are property taxes in Allentown?
About 2.36% of a home’s value a year in Allentown Boro, Monmouth County, or roughly $9,440 on a $400,000 home.
What is the median home price in Allentown?
The median sale price was $636,225 in the three months ending August 31, 2026, about $312 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