| The New Jersey real estate market has just | | | | closing. 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 estate | | | | price is around $900,000, which is nearly five |
| market in Rumson. The nearest metro area is | | | | percent from last year. Sellers are only getting |
| central New Jersey. It is an equal buyer to seller | | | | somewhere around ninety to ninety five percent |
| market with homes sitting between sixty and | | | | of the asking price of their home and there are |
| ninety days between listing and sale. There is a | | | | multiple offers. Move up buyers hold the majority |
| good supply in all price ranges and an increasing | | | | of the buyers portion of the market and job |
| market trend. However, the average housing | | | | growth is behind the market activity. |
| price is $2,100,000. It is up somewhere close to | | | | Long Beach Island has more buyers than sellers |
| five percent when compared to last year. In | | | | despite 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 multiple | | | | closing. There is a good inventory, with an |
| offers. Repeat buyers hold the largest buying | | | | average price of $725,000 this is actually down |
| group on the market and the market is being | | | | 10-15% 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 real | | | | multiple offers in this New Jersey real estate |
| estate market, we have Fair Haven. This is also a | | | | market. Repeat buyers show the greatest |
| 50/50 buyer to sellers market with homes sitting | | | | activity with good economic news being the |
| between 30 and 60 days between listing and | | | | driving factor behind the market. |