New Jersey Real Estate Market

The New Jersey real estate market has justclosing. There is an increasing market trend with a
about everything and anything in any price range.good inventory of homes. The average housing
Take a look at the New Jersey real estateprice is around $900,000, which is nearly five
market in Rumson. The nearest metro area ispercent from last year. Sellers are only getting
central New Jersey. It is an equal buyer to sellersomewhere around ninety to ninety five percent
market with homes sitting between sixty andof the asking price of their home and there are
ninety days between listing and sale. There is amultiple offers. Move up buyers hold the majority
good supply in all price ranges and an increasingof the buyers portion of the market and job
market trend. However, the average housinggrowth is behind the market activity.
price is $2,100,000. It is up somewhere close toLong Beach Island has more buyers than sellers
five percent when compared to last year. Indespite these homes are sitting for more than
addition, sellers are getting between 95 and 100%120 days on the market between listing and
of the asking price for their homes with multipleclosing. There is a good inventory, with an
offers. Repeat buyers hold the largest buyingaverage price of $725,000 this is actually down
group on the market and the market is being10-15% from last year. Sellers are only getting
driven by job growth.90-95% of the asking price and there are no
Heading downwards on the New Jersey realmultiple offers in this New Jersey real estate
estate market, we have Fair Haven. This is also amarket. Repeat buyers show the greatest
50/50 buyer to sellers market with homes sittingactivity with good economic news being the
between 30 and 60 days between listing anddriving factor behind the market.