New Jersey’s housing market entered the year with more homes available for sale and a modest increase in prices compared with last January, according to housing market data released by New Jersey Realtors.
Median sales price for the total market statewide was $517,250, an increase of 1.6% year-over-year. The number of closed sales fell 8.4% to 5,090 and pending sales declined 10.8% to 4,868. New listings slide 10.8% to 7,619. Home for sale rose 5.3% to 14,717 and the days on the market increased 7% to 46.
The median sales price of single-family homes rose 1.8% to $575,000 while the median sales price for townhouse/condominium slid 5.1% to $408,000 (-5.1%). The median sales price for an adult community unit decreased 2.1% to $365,000.
New Jersey Realtors data reflects residential real estate activity reported through all New Jersey multiple listing services.
