As the busy spring market gave way to summer vacations and staying put, New Jersey’s residential real estate market showed more signs of softening.
Homes sold slower and median prices were down month over month in nearly half of New Jersey’s 21 counties. Yet, the number of new listings were still down for the majority of the state, according to July data released this week by New Jersey Realtors.
Statewide, the number of days a home spent on the market was up nearly 4% from 26 to 27 days. Median sales prices held steady at $510,000 and new listings were down 15% since June from 10,751 to 9,096.