{"id":13531,"date":"2021-07-29T05:07:59","date_gmt":"2021-07-29T12:07:59","guid":{"rendered":"https:\/\/www.roomvu.com\/academy\/?p=13531"},"modified":"2021-07-29T05:08:55","modified_gmt":"2021-07-29T12:08:55","slug":"new-jersey-real-estate-market-update","status":"publish","type":"post","link":"https:\/\/www.roomvu.com\/academy\/new-jersey-real-estate-market-update\/","title":{"rendered":"New Jersey Real Estate Market Update"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/www.roomvu.com\" target=\"_blank\" rel=\"roomvu.com noopener\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg\" alt=\"\" class=\"wp-image-12734\" width=\"834\" height=\"145\" srcset=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg 1024w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-300x52.jpg 300w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-768x133.jpg 768w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1536x266.jpg 1536w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-scaled.jpg 2048w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1250x217.jpg 1250w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-400x69.jpg 400w\" sizes=\"(max-width: 834px) 100vw, 834px\" \/><\/a><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Check out my latest video New Jersey Market Update\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/8QzMlYnHGxI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-market-update-new-jersey-june\">Market Update &#8211; New Jersey &#8211; June<\/h2>\n\n\n\n<p class=\"has-drop-cap\">Robust buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. nationwide, inventory remains much lower than it was at this time last year, and sales prices are surging as a result. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-speed-of-the-market\">Speed of the Market<\/h3>\n\n\n\n<p>Speed of the market: 48% &#8211; Demand from buyers was higher than the supply from sellers. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-home-sales\">Home Sales<\/h3>\n\n\n\n<p>There were 12,901 sales in June: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>40.8% <span style=\"color:#00d084\" class=\"tadv-color\"><strong>increase <\/strong><\/span>compared to June 2020. Properties sold faster by 52 % compared to last year. <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-listings\">Listings <\/h3>\n\n\n\n<p>There were 17,023 new listings in June:<\/p>\n\n\n\n<p>Both the listings and sales activity have increased, resulting in an upward trend in prices. <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>0.5 % <span style=\"color:#00d084\" class=\"tadv-color\"><strong>increase <\/strong><\/span>compared to June 2020. <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-average-sold-price\">Average Sold Price<\/h3>\n\n\n\n<p>The average sold price equaled to <span style=\"color:#cf2e2e\" class=\"tadv-color\">$523,642<\/span> in June.<\/p>\n\n\n\n<p>The median price also surpassed last year&#8217;s level by 23.8%<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>24.8 % <strong><span style=\"color:#cf2e2e\" class=\"tadv-color\">increase <\/span><\/strong>compared to June 2020. <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.roomvu.com\" target=\"_blank\" rel=\"roomvu.com noopener\"><img decoding=\"async\" width=\"1024\" height=\"178\" src=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg\" alt=\"\" class=\"wp-image-12734\" srcset=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg 1024w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-300x52.jpg 300w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-768x133.jpg 768w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1536x266.jpg 1536w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-scaled.jpg 2048w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1250x217.jpg 1250w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-400x69.jpg 400w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-detahced-home-highlights\">Detahced Home Highlights<\/h3>\n\n\n\n<p><strong>9,168 detached homes were sold in June:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A 31.4 % <strong><span style=\"color:#00d084\" class=\"tadv-color\">increase<\/span><\/strong> compared to June 2020.<\/li><li>Average prices rose by 28.2% comapared to last year. <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-townhomes-condo-highlights\">Townhomes \/ Condo Highlights<\/h3>\n\n\n\n<p><strong>2,806 townhome<\/strong>s and condos<strong> were sold in June:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A 74.4% <span style=\"color:#00d084\" class=\"tadv-color\"><strong>increase<\/strong> <\/span>compared to June 2020.<\/li><\/ul>\n\n\n\n<p><strong>The average price was $408,941:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A 19.2% <span style=\"color:#cf2e2e\" class=\"tadv-color\"><strong>increase <\/strong><\/span>compared to last year. <\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Market Update &#8211; New Jersey &#8211; June Robust buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. nationwide, inventory remains much lower than it was at this time last year, and sales prices are surging as a result. Speed of the Market Speed of the market: 48% &#8211; &hellip;<\/p>\n","protected":false},"author":1,"featured_media":13534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[917],"tags":[],"class_list":["post-13531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-trends"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New Jersey Real Estate Market Update - roomvu Academy<\/title>\n<meta name=\"description\" content=\"Read the latest real estate market update for New Jersey with all the stats and details together with a visually friendly video.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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