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New Jersey Real Estate Market

Dec 27, 2007
The New Jersey real estate market has just about everything and anything in any price range. Take a look at the New Jersey real estate market in Rumson. The nearest metro area is central New Jersey. It is an equal buyer to seller market with homes sitting between sixty and ninety days between listing and sale. There is a good supply in all price ranges and an increasing market trend. However, the average housing price is $2,100,000. It is up somewhere close to five percent when compared to last year. In addition, sellers are getting between 95 and 100% of the asking price for their homes with multiple offers. Repeat buyers hold the largest buying group on the market and the market is being driven by job growth.

Heading downwards on the New Jersey real estate market, we have Fair Haven. This is also a 50/50 buyer to sellers market with homes sitting between 30 and 60 days between listing and closing. There is an increasing market trend with a good inventory of homes. The average housing price is around $900,000, which is nearly five percent from last year. Sellers are only getting somewhere around ninety to ninety five percent of the asking price of their home and there are multiple offers. Move up buyers hold the majority of the buyers portion of the market and job growth is behind the market activity.

Long Beach Island has more buyers than sellers despite these homes are sitting for more than 120 days on the market between listing and closing. There is a good inventory, with an average price of $725,000 this is actually down 10-15% from last year. Sellers are only getting 90-95% of the asking price and there are no multiple offers in this New Jersey real estate market. Repeat buyers show the greatest activity with good economic news being the driving factor behind the market.

Manahawkin New Jersey real estate is down fifteen to twenty percent compared to last year with housing averaging a price tag of $325,000. There is a good inventory; homes are however sitting on the market for more than one-hundred twenty days. There are more buyers than sellers in this New Jersey Real estate market. Repeat buyers show the greatest activity. Sellers are receiving between ninety to ninety five percent of their asking price with no multiple offers. The hottest area in this market right now is waterfront properties.

Toms River is one of the best areas of New Jersey real estate. First time buyers are showing the most activity. Housing prices are down nearly five percent to $325,000 in a decreasing market trend. There are more buyers than sellers, no multiple offers, and a good solid inventory. Homes are sitting on the market only a month to two months before selling. This area is located within easy access to Atlantic City, New York City, Philly, as well as the beach. It has some of the lowest taxes in the state and some of the best schools, making this a prime location for anyone who is looking to move into this area.
About the Author
Tom Beaty offers New Jersey Real Estate information for buyers and sellers. Don't buy or sell without visiting this Blog or it could cost you: New Jersey real estate
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