N.J.’s housing market is showing signs of softening - nj.com

Jul 6, 2022 · Rising interest rates aren’t putting a big dent in New Jersey’s robust housing market, yet. But there are signs it’s softening. The median sales price of a single family home was up …

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Year-end NJ Housing Data Shows Market Softening

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Real Estate On Jan 27, 2023 Rising interest rates, low inventory, and climbing prices have cooled the housing market in 2022, with closed sales down 17.8% over 2021, according to year-end …

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New Jersey Real Estate Market: Predictions For 2025 - Houzeo

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Jan 21, 2025 · 7,378 NJ homes sold in Jan 2025. The median price was ~$531K. Despite alarming rates, homes are selling in the New Jersey real estate market.

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FAQs about N.J.’s housing market is showing signs of softening - nj.com Coupon?

Is New Jersey's housing market softening?

NEW! Rising interest rates aren’t putting a big dent in New Jersey’s robust housing market, yet. But there are signs it’s softening. The median sales price of a single family home was up 12.6% from a year ago to $490,000. ...

How did New Jersey's housing market perform despite a slowdown?

Adult communities' median price surged 9.9% to $368,000. New Jersey's housing market continues to defy expectations with steady price growth despite the slowdown in transactions. The 6.9% overall increase in median sales price suggests that demand remains strong, especially for single-family homes and adult community properties. ...

Is the real estate market softening?

But there are signs it’s softening. The median sales price of a single family home was up 12.6% from a year ago to $490,000. The percent of list price received was up 2.1% to 104.9% and days on market was down 17.6% from a year ago to 28 days, according to data for May released this week by New Jersey Realtors. ...

How has New Jersey's housing shortage impacted property prices?

Inventory vs. Price Dynamics: Despite the sales slowdown, New Jersey's persistent housing supply shortage has continued to drive property values upward. Overall, the median sales price for all properties has increased by 12.0% over the past year. ...

Does New Jersey's housing market continue to defy expectations?

New Jersey's housing market continues to defy expectations with steady price growth despite the slowdown in transactions. The 6.9% overall increase in median sales price suggests that demand remains strong, especially for single-family homes and adult community properties. These gains are particularly impressive, considering the rise in inventory. ...

Are New Jersey housing markets red-hot again?

Some New Jersey housing markets are red-hot again. Elijah Hughes, a New Jersey–based real estate agent, is getting ready to put an offer down on a single-family, two-bedroom house in Clifton, N.J., for his client. But he’s not expecting it’ll win the bidding war, despite the offer being around $51,000 over asking. ...