There were 23,627 homes for sale in November 2022, a 13% decline over last year.
■ Median sales prices are up 7.8% year-to-date in the total market, while new listings and closed sales dropped in November 2022.
■ Existing home and pending home sales have continued to slow as we move into winter.
■ Pending sales decreased 31.9% from November 2021 to 6,516 for the month.
■ Middlesex County and Bergen County had the most pending sales while Hunterdon and Middlesex Counties had the lowest year-over-year decline closed sales.
■ Atlantic County and Ocean County had the most active listings.
■ Ocean and Monmouth Counties saw gains in inventory.
■ The increase in supply is a welcome sign for those still looking to buy.
■ Prices were up compared to last year at this time.
■ The median sales price was up 6.3% to $425,000.
■ Essex and Somerset Counties received the largest share of their asking price.
■ Salem and Warren Counties reported the greatest year-over-year increases.
■ With home sales down nationwide, housing inventory was at 3.3 months supply in November, up from 2.4 months from this time last year.