The NCJAR (North Central Jersey Association of Realtors®) Housing Market is a comprehensive source of real estate data for North Central New Jersey. It provides key insights into the area's real estate trends, including information on home sales, average sale prices, and housing inventory, offering valuable data for both buyers and sellers. With this market information, individuals can make informed decisions about buying, selling, or investing in real estate in the North Central New Jersey area.
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March 2024 Market Stats
U.S. existing-home sales improved for the second month in a row, jumping 9.5% to a seasonally adjusted annual rate of 4.38 million units, exceeding economists’ expectations and marking the largest monthly gain in a year, according to the National Association of REALTORS®(NAR). The rebound in home sales comes amid fluctuating mortgage rates and elevated sales prices, indicating there is plenty of buyer demand heading into the spring selling season.
- Single Family Closed Sales were down 18.8 percent to 1,107.
- Townhouse-Condo Closed Sales were down 17.3 percent to 307.
- Adult Communities Closed Sales were down 6.0 percent to 47.
February 2024 Market Stats
U.S. existing-home sales grew 3.1% month-over-month to a seasonally adjusted annual rate of 4.00 million, exceeding economists’ expectations and marking the strongest sales pace since August 2023, according to the National Association of REALTORS® (NAR). Falling interest rates late last year, coupled with a recent uptick in inventory, helped existing-home sales to climb following last month’s decline, with monthly gains reported in the Midwest, South, and West regions.
- Single Family Closed Sales were down 0.6 percent to 973.
- Townhouse-Condo Closed Sales were down 11.8 percent to 247.
- Adult Communities Closed Sales were down 43.8 percent to 27.
January 2024 Market Stats
U.S. existing-home sales slipped 1.0% month-over-month and were down 6.2% year-over-year as of last measure, while pending sales jumped 8.3% from the previous month, marking the largest gain since June 2020, according to the National Association of REALTORS® (NAR). Mortgage rates have dropped significantly from their peak last fall, and homebuyers are beginning to come out of the woodwork, with NAR forecasting a 13% increase in existing-home sales this year compared to 2023.
- Single Family Closed Sales were down 11.3 percent to 1,038.
- Townhouse-Condo Closed Sales were up 4.8 percent to 284.
- Adult Communities Closed Sales were up 11.8 percent to 38.
Attention NCJAR Members and Visitors!
Please note that the NCJAR Board offices will be CLOSED on Thursday, April 18th for staff training. We apologize for any inconvenience this may cause and appreciate your understanding.
Our regular business hours will resume on Friday, April 19th from 9:00 AM to 4:30 PM.
Should you have any questions or concerns during this time, please don’t hesitate to reach out to us at
Thank you for your cooperation!
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