A closer look at the numbers will reveal a real breakdown in activity in the market for the state. Such historical data should be factored into any decision to sell or buy a home in New Jersey during the months of December to May 2017.
Back in November of 2015, the average price received for:
Single Family: $295K
Senior Housing: $175K
By February of 2016, the average price received for:
Single Family: $264K
Senior Housing: $150K
The average price did not fully recover until May of 2015 as seen by these figures::
Single Family: $305K
Senior Housing: $182K
Based upon the figures provided by New Jersey Realtor, the best month to sell a home is during the month of August, which in 2016 came in at:
Single Family: $332.5K
Senior Housing: $185K*
*In the case of senior housing, the best month for the last 12 months was July, which came in at $195K.
Best Months to Sell
Avg Days on Market
May 2016 80
June 2016 73
July 2016 70
August 2016 73
This information has been provided by New Jersey Realtor.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.