Despite all the negativity about higher interest rates and inflation, single-family homes in New Jersey are still on the rise as far as prices and as far as new listings. New listings for June 2022 have increased every
month since January, showing a definite trend line higher.
More and more sellers are looking to put their homes on the market. What’s even more telling is the fact that the percent of price received by the sellers has gone up by nearly 2%, where sellers are receiving 105% of their original listing price.
The number of homes for sale continues to decrease and at this point in the month of June, there were just 18,145 homes for sale. The number of closed sales has increased, tracking with the number of new listings and buyers looking to pay for what they want.
Finally, in June 2022, the average sale price for a single-family home in the state of New Jersey hit another new all-time high, increasing by 11% to nearly $638,000.
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.