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Monthly Snapshot
23456789
101112131415Total Market Overview
Monthly Indicators
November 2018
+ 1.8% - 8.5%One-Year Change in
Closed SalesAll Properties
New Listings
Single Family Market OverviewTownhouse-Condo Market OverviewAdult Community Market Overview
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime.
One-Year Change in Homes for SaleAll Properties
One-Year Change in Median Sales Price
All Properties
+ 5.8%
Pending SalesClosed Sales
The booming U.S. economy continues to prop up home sales and new listings in much of the nation, although housing affordability remains a concern. Historically, housing is still relatively affordable. Although Freddie Mac recently reported that the 30-year fixed rate is at its highest average in seven years, reaching 4.94 percent, average rates were 5.97 percent ten years ago, 6.78 percent 20 years ago and 10.39 percent 30 years ago. Nevertheless, affordability concerns are causing a slowdown in home price growth in some markets, while price reductions are becoming more common.
• Single Family Closed Sales were up 4.6 percent to 1,843. • Townhouse-Condo Closed Sales were down 6.2 percent to 391. • Adult Communities Closed Sales were down 36.6 percent to 26.
• Single Family Median Sales Price increased 4.6 percent to $365,000. • Townhouse-Condo Median Sales Price decreased 3.5 percent to $251,750. • Adult Communities Median Sales Price decreased 2.5 percent to $331,500.
The Bureau of Labor Statistics recently reported that the national unemployment rate was at 3.7 percent. Low unemployment has helped the housing industry during this extensive period of U.S. economic prosperity. Home buying and selling activity relies on gainful employment. It also relies on demand, and builders are showing caution by breaking ground on fewer single-family home construction projects in the face of rising mortgage rates and fewer showings.
For residential real estate activity in Essex, Hunterdon, Morris, Somerset, Sussex, Union and Warren Counties. Percent changes are calculated using rounded figures.
Median Sales PriceAverage Sales PricePercent of List Price ReceivedDays on Market Until SaleHousing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory
Single Family Market Overview
Key Metrics Historical Sparklines 11-2017 11-2018 Percent Change YTD 2017 YTD 2018 Percent Change
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 2
--
Months Supply 4.8 4.4 - 8.3% -- -- --
Homes for Sale 9,069 8,347 - 8.0% -- --
- 9.0%
Affordability Index 132 119 - 9.8% 127 116 - 8.7%
Days on Market 66 62 - 6.1% 67 61
+ 1.6%
Pct. of List Price Received 98.4% 98.5% + 0.1% 98.5% 98.7% + 0.2%
Avg. Sales Price $419,072 $447,193 + 6.7% $448,626 $455,854
- 0.1%
Median Sales Price $349,000 $365,000 + 4.6% $365,000 $374,500 + 2.6%
Closed Sales 1,762 1,843 + 4.6% 21,092 21,071
Key metrics for Single Family Properties Only, excluding Manufactured Housing, for the report month and for year-to-date (YTD) starting from the first of the year.
35,316 + 3.1%
Pending Sales 1,654 1,713 + 3.6% 21,598 21,625 + 0.1%
34,246New Listings 2,018 2,130 + 5.6%
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
Townhouse-Condo Market Overview
Key Metrics Historical Sparklines 11-2017 11-2018 Percent Change YTD 2017 YTD 2018 Percent Change
6,710 + 1.2%
Pending Sales 386 379 - 1.8% 4,740 4,775 + 0.7%
6,630New Listings 471 425 - 9.8%
Closed Sales 417 391 - 6.2% 4,616 4,704 + 1.9%
+ 2.0%
98.1%
$294,401 + 1.1%
Median Sales Price $260,750 $251,750 - 3.5% $255,000 $260,000
Avg. Sales Price $298,773 $286,052 - 4.3% $291,157
167
+ 0.4%
Days on Market 60 55 - 8.3% 63 55 - 12.7%
Pct. of List Price Received 97.5% 98.0% + 0.5% 97.7%
Affordability Index 177 173 - 2.3% 181
- 14.0% -- -- --
Key metrics for Townhouses and Condominiums Only for the report month and for year-to-date (YTD) starting from the first of the year.
--Months Supply 3.8 3.2 - 15.8% -- --
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 3
- 7.7%
Homes for Sale 1,596 1,372
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
Adult Community Market Overview
Key Metrics Historical Sparklines 11-2017 11-2018 Percent Change YTD 2017 YTD 2018 Percent Change
Key metrics for properties in Adult Communities Only for the report month and for year-to-date (YTD) starting from the first of the year.
614 - 2.2%
Pending Sales 42 44 + 4.8% 487 420 - 13.8%
628New Listings 36 58 + 61.1%
Closed Sales 41 26 - 36.6% 462 426 - 7.8%
+ 5.0%
$403,026 + 7.4%
Median Sales Price $340,000 $331,500 - 2.5% $332,000 $348,700
Avg. Sales Price $407,397 $372,846 - 8.5% $375,388
+ 0.9%
Days on Market 73 47 - 35.6% 80 64 - 20.0%
Pct. of List Price Received 98.3% 97.3% - 1.0% 97.5% 98.4%
- 10.1%
Homes for Sale 153 176 + 15.0% -- -- --
Affordability Index 136 131 - 3.7% 139 125
--Months Supply 3.5 4.7 + 34.3% -- --
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 4
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
New Listings
Historical New Listings by Month Single Family Townhouse-Condo Adult Communities
December 2017 1,394 275 31
January 2018 2,510 518 48
February 2018 2,956 587 51
March 2018 3,254 667 48
April 2018 4,085 742 57
May 2018 4,373 742 67
June 2018 3,809 679 49
July 2018 3,193 606 43
August 2018 2,819 568 53
September 2018 3,199 598 76
October 2018 2,988 578 64
November 2018 2,130 425 58
12-Month Avg. 3,059 582 54 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.
A count of the properties that have been newly listed on the market in a given month.
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 5
1,959
416
50
2,018
471
36
2,130
425
58
Single Family Townhouse-Condo Adult Communities
November
0
1,000
2,000
3,000
4,000
5,000
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Single Family Townhouse-Condo Adult Communities
33,584
6,646
717
34,246
6,630
628
35,316
6,710
614
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 9.8%+ 13.2%+ 5.6%+ 3.0% - 0.2%+ 3.1%+ 2.0% + 1.2%
2016 2017 2018 2016 2017 2018 2016 2017 2018
+ 5.0% + 0.2% - 3.1%- 5.2% + 61.1%- 28.0%2016 2017 2018
+ 2.0% - 2.2%- 12.4%2016 2017 2018
+ 8.1%
Pending Sales
Historical Pending Sales by Month Single Family Townhouse-Condo Adult Communities
December 2017 1,283 323 30
January 2018 1,395 321 29
February 2018 1,683 420 35
March 2018 2,078 488 34
April 2018 2,224 476 37
May 2018 2,475 525 42
June 2018 2,388 485 38
July 2018 2,107 455 52
August 2018 1,980 424 34
September 2018 1,644 376 33
October 2018 1,938 426 42
November 2018 1,713 379 44
12-Month Avg. 1,909 425 38 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 6
A count of the properties on which offers have been accepted in a given month.
1,542
335
35
1,654
386
42
1,713
379
44
Single Family Townhouse-Condo Adult Communities
November
0
500
1,000
1,500
2,000
2,500
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Single Family Townhouse-Condo Adult Communities
19,977
4,456
439
21,598
4,740
487
21,625
4,775
420
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 1.8%+ 15.2%+ 3.6%+ 7.3% + 6.4%+ 0.1%+ 8.1% + 0.7%
2016 2017 2018 2016 2017 2018 2016 2017 2018
+ 15.3% + 11.7% + 4.9%+ 5.0% + 4.8%+ 20.0%2016 2017 2018
+ 66.7% - 13.8%+ 10.9%2016 2017 2018
+ 6.3%
Closed Sales
Historical Closed Sales by Month Single Family Townhouse-Condo Adult Communities
December 2017 1,823 412 41
January 2018 1,445 339 35
February 2018 1,220 280 32
March 2018 1,463 398 40
April 2018 1,745 413 29
May 2018 2,016 459 48
June 2018 2,573 588 43
July 2018 2,515 508 40
August 2018 2,609 523 50
September 2018 1,761 390 37
October 2018 1,881 415 46
November 2018 1,843 391 26
12-Month Avg. 1,908 426 39 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 7
A count of the actual sales that closed in a given month.
1,701
379
37
1,762
417
41
1,843
391
26
Single Family Townhouse-Condo Adult Communities
November
0
500
1,000
1,500
2,000
2,500
3,000
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Single Family Townhouse-Condo Adult Communities
19,164
4,354
419
21,092
4,616
462
21,071
4,704
426
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 6.2%+ 10.0%+ 4.6%+ 3.6% + 6.0%- 0.1%+ 10.1% + 1.9%
2016 2017 2018 2016 2017 2018 2016 2017 2018
+ 27.5% + 12.1% + 6.3%+ 29.4% - 36.6%+ 10.8%2016 2017 2018
+ 48.0% - 7.8%+ 10.3%2016 2017 2018
+ 6.3%
Median Sales Price
Historical Median Sales Price by Month Single Family Townhouse-Condo Adult Communities
December 2017 $345,000 $265,000 $340,000
January 2018 $327,000 $253,500 $320,000
February 2018 $315,000 $242,000 $317,500
March 2018 $343,250 $240,000 $372,000
April 2018 $360,000 $265,000 $415,000
May 2018 $370,000 $270,000 $355,000
June 2018 $408,000 $276,250 $341,000
July 2018 $420,000 $278,250 $345,000
August 2018 $408,250 $268,500 $347,500
September 2018 $365,000 $245,000 $288,000
October 2018 $354,000 $249,950 $380,000
November 2018 $365,000 $251,750 $331,500
12-Month Med.* $370,000 $260,000 $345,000 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 8
* Median Sales Price for all properties from December 2017 through November 2018. This is not the average of the individual figures above.
$341,000
$245,000
$289,000
$349,000
$260,750
$340,000$365,000
$251,750
$331,500
Single Family Townhouse-Condo Adult Communities
November
$100,000
$200,000
$300,000
$400,000
$500,000
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Single Family Townhouse-Condo Adult Communities
$369,500
$254,750
$332,000
$365,000
$255,000
$332,000
$374,500
$260,000
$348,700
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 3.5%+ 6.4%+ 4.6%+ 2.3% + 0.1%+ 2.6%- 1.2% + 2.0%
2016 2017 2018 2016 2017 2018 2016 2017 2018
+ 0.3% - 1.5% - 2.0%- 3.2% - 2.5%+ 17.6%2016 2017 2018
- 16.0% + 5.0%0.0%2016 2017 2018
- 2.3%
Average Sales Price
Historical Average Sales Price by Month Single Family Townhouse-Condo Adult Communities
December 2017 $444,358 $293,059 $381,998
January 2018 $419,431 $285,035 $467,786
February 2018 $390,216 $265,621 $380,874
March 2018 $427,292 $284,159 $408,546
April 2018 $446,168 $295,652 $474,606
May 2018 $460,275 $302,762 $391,397
June 2018 $492,103 $306,951 $387,352
July 2018 $502,940 $315,156 $401,991
August 2018 $490,182 $295,682 $386,416
September 2018 $434,476 $285,964 $374,580
October 2018 $421,141 $291,768 $404,916
November 2018 $447,193 $286,052 $372,846
12-Month Avg.* $454,939 $294,293 $401,180 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.
Average sales price for all closed sales, not accounting for seller concessions, in a given month.
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 9
* Avg. Sales Price for all properties from December 2017 through November 2018. This is not the average of the individual figures above.
$411,640
$279,780 $287,395
$419,072
$298,773
$407,397
$447,193
$286,052
$372,846
Single Family Townhouse-Condo Adult Communities
November
$200,000
$300,000
$400,000
$500,000
$600,000
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Single Family Townhouse-Condo Adult Communities
$451,879
$289,898
$359,780
$448,626
$291,157
$375,388
$455,854
$294,401
$403,026
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 4.3%+ 6.8%+ 6.7%+ 1.8% + 0.4%+ 1.6%- 0.7% + 1.1%
2016 2017 2018 2016 2017 2018 2016 2017 2018
- 2.5% - 2.8% - 0.6%- 3.6% - 8.5%+ 41.8%2016 2017 2018
- 22.1% + 7.4%+ 4.3%2016 2017 2018
+ 0.1%
Percent of List Price Received
Historical Percent of List Price Received by Month Single Family Townhouse-Condo Adult Communities
December 2017 98.1% 97.5% 97.4%
January 2018 98.3% 97.5% 96.7%
February 2018 97.6% 98.0% 98.1%
March 2018 98.4% 97.7% 100.2%
April 2018 98.8% 98.1% 98.3%
May 2018 99.1% 98.1% 99.2%
June 2018 99.3% 98.5% 98.0%
July 2018 99.2% 98.8% 99.2%
August 2018 99.0% 98.1% 98.5%
September 2018 98.4% 97.9% 98.8%
October 2018 98.4% 98.3% 97.9%
November 2018 98.5% 98.0% 97.3%
12-Month Avg.* 98.7% 98.1% 98.4% Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.
Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 10
* Pct. of List Price Received for all properties from December 2017 through November 2018. This is not the average of the individual figures above.
97.7%96.7%
95.8%
98.4%97.5%
98.3%98.5% 98.0%97.3%
Single Family Townhouse-Condo Adult Communities
November
92.0%
94.0%
96.0%
98.0%
100.0%
102.0%
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Single Family Townhouse-Condo Adult Communities
97.5% 97.1% 97.2%
98.5%97.7% 97.5%
98.7%98.1% 98.4%
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
+ 0.5%+ 0.8%+ 0.1%+ 0.7% + 0.6%+ 0.2%+ 1.0% + 0.4%
2016 2017 2018 2016 2017 2018 2016 2017 2018
+ 1.3% + 0.3% + 0.1%- 0.4% - 1.0%+ 2.6%2016 2017 2018
- 1.8% + 0.9%+ 0.3%2016 2017 2018
0.0%
Days on Market Until Sale
Historical Days on Market Until Sale by Month Single Family Townhouse-Condo Adult Communities
December 2017 73 61 85
January 2018 71 65 85
February 2018 78 68 76
March 2018 70 62 69
April 2018 62 53 54
May 2018 60 56 59
June 2018 54 45 66
July 2018 52 52 57
August 2018 55 56 61
September 2018 61 56 65
October 2018 65 54 63
November 2018 62 55 47
12-Month Avg.* 62 56 66 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.
Average number of days between when a property is listed and when an offer is accepted in a given month.
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 11
* Days on Market for all properties from December 2017 through November 2018. This is not the average of the individual figures above.
73 7380
6660
73
6255
47
Single Family Townhouse-Condo Adult Communities
November
25
50
75
100
125
150
175
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Single Family Townhouse-Condo Adult Communities
7569
84
6763
80
6155
64
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 8.3%- 17.8%- 6.1%- 9.6% - 8.7%- 9.0%- 10.7% - 12.7%
2016 2017 2018 2016 2017 2018 2016 2017 2018
- 8.8% - 2.6% - 5.5%+ 7.4% - 35.6%- 8.8%2016 2017 2018
+ 21.2% - 20.0%- 4.8%2016 2017 2018
+ 6.3%
Housing Affordability Index
Historical Housing Affordability Index by Month Single Family Townhouse-Condo Adult Communities
December 2017 132 172 134
January 2018 135 174 138
February 2018 140 182 139
March 2018 128 183 118
April 2018 120 163 104
May 2018 117 160 122
June 2018 107 157 128
July 2018 104 156 126
August 2018 107 162 125
September 2018 119 178 151
October 2018 123 174 114
November 2018 119 173 131
12-Month Avg.* 121 170 128 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 12
This index measures housing affordability for the region. For example, an index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
* Affordability Index for all properties from December 2017 through November 2018. This is not the average of the individual figures above.
128
178
151
132
177
136119
173
131
Single Family Townhouse-Condo Adult Communities
November
75
100
125
150
175
200
225
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Single Family Townhouse-Condo Adult Communities
118
171
131127
181
139
116
167
125
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 2.3%- 0.6%- 9.8%+ 3.1% + 5.8%- 8.7%+ 7.6% - 7.7%
2016 2017 2018 2016 2017 2018 2016 2017 2018
- 2.3% 0.0% 0.0%+ 1.7% - 3.7%- 9.9%2016 2017 2018
+ 17.1% - 10.1%+ 6.1%2016 2017 2018
0.0%
Inventory of Homes for Sale
Historical Inventory of Homes for Sale by Month Single Family Townhouse-Condo Adult Communities
December 2017 7,729 1,366 136
January 2018 7,830 1,425 142
February 2018 8,237 1,453 148
March 2018 8,528 1,466 157
April 2018 9,414 1,613 160
May 2018 10,288 1,684 174
June 2018 10,536 1,682 172
July 2018 10,402 1,668 149
August 2018 9,911 1,586 154
September 2018 10,050 1,590 179
October 2018 9,506 1,524 178
November 2018 8,347 1,372 176
12-Month Avg. 9,232 1,536 160 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.
The number of properties available for sale in active status at the end of a given month.
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 13
10,270
1,767270
9,069
1,596153
8,347
1,372176
Single Family Townhouse-Condo Adult Communities
November
0
2,500
5,000
7,500
10,000
12,500
15,000
17,500
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Single Family Townhouse-Condo Adult Communities
2016 2017 2018- 14.0%- 9.7%- 8.0%- 11.7%
2016 2017 2018- 13.0% - 16.5% + 15.0%- 43.3%
2016 2017 2018+ 3.1%
Months Supply of Inventory
Historical Months Supply of Inventory by Month Single Family Townhouse-Condo Adult Communities
December 2017 4.1 3.2 3.2
January 2018 4.1 3.4 3.4
February 2018 4.3 3.4 3.5
March 2018 4.5 3.5 3.8
April 2018 4.9 3.8 3.9
May 2018 5.4 4.0 4.3
June 2018 5.6 4.0 4.4
July 2018 5.5 3.9 3.7
August 2018 5.2 3.7 4.1
September 2018 5.3 3.7 4.8
October 2018 5.0 3.6 4.8
November 2018 4.4 3.2 4.7
12-Month Avg.* 4.8 3.6 4.0 Note: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.
The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 14
* Months Supply for all properties from December 2017 through November 2018. This is not the average of the individual figures above.
5.8
4.4
6.9
4.83.8 3.5
4.4
3.2
4.7
Single Family Townhouse-Condo Adult Communities
November
0
5
10
15
20
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Single Family Townhouse-Condo Adult Communities
2016 2017 2018- 15.8%- 13.6%- 8.3%- 17.2%
2016 2017 2018- 22.7% - 21.4% + 34.3%- 49.3%
2016 2017 2018- 5.5%
Total Market Overview
Key Metrics Historical Sparklines 11-2017 11-2018 Percent Change YTD 2017 YTD 2018 Percent Change
--Months Supply 4.6 4.2 - 8.7% -- --
Data as of December 20, 2018. All data from Garden State MLS and New Jersey MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2018 ShowingTime. | 15
- 8.1%
Homes for Sale 10,818 9,895 - 8.5% -- -- --
Affordability Index 142 126 - 11.3% 136 125
+ 0.2%
Days on Market 65 61 - 6.2% 66 60 - 9.1%
Pct. of List Price Received 98.2% 98.4% + 0.2% 98.4% 98.6%
$425,983 + 1.5%
Median Sales Price $325,000 $344,000 + 5.8% $340,000 $348,000
Avg. Sales Price $396,273 $418,382 + 5.6% $419,534
26,170 26,201 + 0.1%
+ 2.4%
+ 3.5%
Closed Sales 2,220 2,260 + 1.8%
Key metrics for single-family properties, townhouses, condominiums and properties in adult communities combined, for the report month and for year-to-date (YTD) starting from the first of the year.
42,640 + 2.7%
Pending Sales 2,082 2,136 + 2.6% 26,825 26,820 - 0.0%
41,504New Listings 2,525 2,613
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018
11-2015 11-2016 11-2017 11-2018