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Monthly Snapshot
23456789
101112131415Total Market Overview
Monthly Indicators
May 2018
- 4.2% - 15.5%One-Year Change in
Closed SalesAll Properties
New Listings
Single Family Market OverviewTownhouse-Condo Market OverviewAdult Community Market Overview
Data as of June 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
+ 0.9%
Pending SalesClosed Sales
Just like last year at this time, prospective home buyers should expect a competitive housing market for the next several months. With payrolls trending upward and unemployment trending downward month after month in an extensive string of positive economic news, demand remains quite strong. Given the fact that gradually rising mortgage rates often infuse urgency to get into a new home before it costs more later, buyers need to remain watchful of new listings and make their offers quickly.
• Single Family Closed Sales were down 4.0 percent to 2,003. • Townhouse-Condo Closed Sales were down 5.1 percent to 451. • Adult Communities Closed Sales were down 2.1 percent to 47.
• Single Family Median Sales Price decreased 1.1 percent to $370,000. • Townhouse-Condo Median Sales Price increased 8.0 percent to $270,000. • Adult Communities Median Sales Price increased 13.3 percent to $360,000.
Although home sales may actually drop in year-over-year comparisons over the next few months, that has more to do with low inventory than a lack of buyer interest. As lower days on market and higher prices persist year after year, one might rationally expect a change in the outlook for residential real estate, yet the current situation has proven to be remarkably sustainable likely due to stronger fundamentals in home loan approvals than were in place a decade ago.
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 5-2017 5-2018 Percent Change YTD 2017 YTD 2018 Percent Change
Data as of June 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 5.8 4.7 - 19.0% -- -- --
Homes for Sale 10,763 9,121 - 15.3% -- --
- 13.0%
Affordability Index 123 119 - 3.3% 135 128 - 5.2%
Days on Market 66 60 - 9.1% 77 67
+ 0.6%
Pct. of List Price Received 98.7% 99.1% + 0.4% 98.1% 98.5% + 0.4%
Avg. Sales Price $455,409 $461,561 + 1.4% $430,505 $433,157
- 0.3%
Median Sales Price $374,000 $370,000 - 1.1% $342,000 $345,000 + 0.9%
Closed Sales 2,087 2,003 - 4.0% 7,877 7,857
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.
16,732 - 1.3%
Pending Sales 2,472 2,621 + 6.0% 9,882 10,155 + 2.8%
16,951New Listings 4,140 3,955 - 4.5%
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
Townhouse-Condo Market Overview
Key Metrics Historical Sparklines 5-2017 5-2018 Percent Change YTD 2017 YTD 2018 Percent Change
3,166 - 1.0%
Pending Sales 514 529 + 2.9% 2,199 2,264 + 3.0%
3,197New Listings 694 663 - 4.5%
Closed Sales 475 451 - 5.1% 1,814 1,878 + 3.5%
+ 2.0%
97.9%
$287,643 + 2.4%
Median Sales Price $250,000 $270,000 + 8.0% $249,900 $255,000
Avg. Sales Price $283,385 $303,091 + 7.0% $280,853
173
+ 0.4%
Days on Market 61 55 - 9.8% 69 60 - 13.0%
Pct. of List Price Received 98.0% 98.2% + 0.2% 97.5%
Affordability Index 184 164 - 10.9% 184
- 14.6% -- -- --
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 4.3 3.5 - 18.6% -- --
Data as of June 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
- 6.0%
Homes for Sale 1,734 1,481
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
Adult Community Market Overview
Key Metrics Historical Sparklines 5-2017 5-2018 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.
265 - 16.9%
Pending Sales 49 43 - 12.2% 212 179 - 15.6%
319New Listings 76 61 - 19.7%
Closed Sales 48 47 - 2.1% 187 182 - 2.7%
+ 13.0%
$421,390 + 24.1%
Median Sales Price $317,750 $360,000 + 13.3% $320,000 $361,500
Avg. Sales Price $340,542 $395,789 + 16.2% $339,518
+ 1.4%
Days on Market 61 59 - 3.3% 80 68 - 15.0%
Pct. of List Price Received 97.1% 99.2% + 2.2% 97.2% 98.6%
- 15.3%
Homes for Sale 237 164 - 30.8% -- -- --
Affordability Index 145 123 - 15.2% 144 122
--Months Supply 5.7 4.1 - 28.1% -- --
Data as of June 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
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
New Listings
Historical New Listings by Month Single Family Townhouse-Condo Adult Communities
June 2017 3,717 640 70
July 2017 2,958 573 52
August 2017 2,844 602 56
September 2017 3,066 623 40
October 2017 2,687 524 55
November 2017 2,016 470 36
December 2017 1,392 273 32
January 2018 2,502 512 48
February 2018 2,952 587 51
March 2018 3,248 662 48
April 2018 4,075 742 57
May 2018 3,955 663 61
12-Month Avg. 2,951 573 51 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 June 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
3,777
701
60
4,140
694
76
3,955
663
61
Single Family Townhouse-Condo Adult Communities
May
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
16,930
3,268
341
16,951
3,197
319
16,732
3,166
265
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 4.5%- 1.0%- 4.5%+ 9.6% - 2.2%- 1.3%+ 0.1% - 1.0%
2016 2017 2018 2016 2017 2018 2016 2017 2018
- 10.0% + 2.2% - 0.1%- 10.9% - 19.7%+ 26.7%2016 2017 2018
- 30.2% - 16.9%- 6.5%2016 2017 2018
+ 9.3%
Pending Sales
Historical Pending Sales by Month Single Family Townhouse-Condo Adult Communities
June 2017 2,484 486 52
July 2017 2,013 371 42
August 2017 2,032 456 61
September 2017 1,744 400 39
October 2017 1,840 448 40
November 2017 1,670 385 42
December 2017 1,297 324 30
January 2018 1,409 324 29
February 2018 1,703 416 34
March 2018 2,131 500 35
April 2018 2,291 495 38
May 2018 2,621 529 43
12-Month Avg. 1,936 428 40 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 June 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.
2,198
463
51
2,472
514
49
2,621
529
43
Single Family Townhouse-Condo Adult Communities
May
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
8,951
2,082
192
9,882
2,199
212
10,155
2,264
179
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
+ 2.9%+ 11.0%+ 6.0%+ 12.5% + 5.6%+ 2.8%+ 10.4% + 3.0%
2016 2017 2018 2016 2017 2018 2016 2017 2018
+ 5.8% + 13.6% + 11.2%- 3.7% - 12.2%- 3.9%2016 2017 2018
+ 8.5% - 15.6%+ 10.4%2016 2017 2018
+ 11.6%
Closed Sales
Historical Closed Sales by Month Single Family Townhouse-Condo Adult Communities
June 2017 2,633 558 52
July 2017 2,319 478 38
August 2017 2,648 472 50
September 2017 1,946 404 42
October 2017 1,902 473 52
November 2017 1,760 417 41
December 2017 1,823 412 41
January 2018 1,439 339 35
February 2018 1,217 281 32
March 2018 1,461 397 40
April 2018 1,737 410 28
May 2018 2,003 451 47
12-Month Avg. 1,907 424 42 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 June 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.
1,695
418
40
2,087
475
48
2,003
451
47
Single Family Townhouse-Condo Adult Communities
May
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
6,806
1,705
148
7,877
1,814
187
7,857
1,878
182
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 5.1%+ 13.6%- 4.0%+ 23.1% + 6.4%- 0.3%+ 15.7% + 3.5%
2016 2017 2018 2016 2017 2018 2016 2017 2018
+ 11.0% + 18.2% + 16.5%+ 16.1% - 2.1%+ 20.0%2016 2017 2018
+ 2.6% - 2.7%+ 26.4%2016 2017 2018
+ 11.3%
Median Sales Price
Historical Median Sales Price by Month Single Family Townhouse-Condo Adult Communities
June 2017 $415,000 $266,000 $376,950
July 2017 $400,000 $277,000 $347,250
August 2017 $400,000 $263,200 $320,000
September 2017 $350,000 $259,000 $328,000
October 2017 $340,000 $242,500 $377,500
November 2017 $349,000 $260,750 $340,000
December 2017 $345,000 $265,000 $340,000
January 2018 $325,500 $253,500 $320,000
February 2018 $315,000 $242,000 $317,500
March 2018 $344,000 $240,000 $372,000
April 2018 $360,000 $261,350 $412,500
May 2018 $370,000 $270,000 $360,000
12-Month Med.* $364,900 $260,000 $349,900 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.
$375,000
$266,950
$340,000
$374,000
$250,000
$317,750
$370,000
$270,000
$360,000
Single Family Townhouse-Condo Adult Communities
May
$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
$339,900
$252,250
$339,500$342,000
$249,900
$320,000$345,000
$255,000
$361,500
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
+ 8.0%- 6.3%- 1.1%- 0.3% - 0.9%+ 0.9%+ 0.6% + 2.0%
2016 2017 2018 2016 2017 2018 2016 2017 2018
- 2.6% - 4.9% - 1.3%+ 3.1% + 13.3%- 6.5%2016 2017 2018
+ 10.3% + 13.0%- 5.7%2016 2017 2018
+ 5.4%
Average Sales Price
Historical Average Sales Price by Month Single Family Townhouse-Condo Adult Communities
June 2017 $503,249 $303,511 $439,734
July 2017 $480,319 $307,610 $375,013
August 2017 $482,641 $309,512 $362,739
September 2017 $428,573 $293,267 $387,751
October 2017 $410,015 $272,623 $419,662
November 2017 $419,315 $298,773 $407,397
December 2017 $444,415 $293,059 $381,998
January 2018 $419,527 $284,806 $467,786
February 2018 $389,768 $265,196 $380,874
March 2018 $427,704 $284,426 $408,546
April 2018 $446,707 $291,496 $471,020
May 2018 $461,561 $303,091 $395,789
12-Month Avg.* $449,252 $293,681 $406,398 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.
$466,065
$310,118
$354,944
$455,409
$283,385
$340,542
$461,561
$303,091
$395,789
Single Family Townhouse-Condo Adult Communities
May
$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
$426,142
$286,113
$365,051
$430,505
$280,853
$339,518
$433,157
$287,643
$421,390
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
+ 7.0%- 8.6%+ 1.4%- 2.3% - 1.8%+ 0.6%+ 1.0% + 2.4%
2016 2017 2018 2016 2017 2018 2016 2017 2018
- 1.6% - 5.3% - 1.2%+ 5.6% + 16.2%- 4.1%2016 2017 2018
+ 15.7% + 24.1%- 7.0%2016 2017 2018
+ 8.4%
Percent of List Price Received
Historical Percent of List Price Received by Month Single Family Townhouse-Condo Adult Communities
June 2017 99.4% 98.5% 98.6%
July 2017 99.0% 98.3% 96.5%
August 2017 99.0% 97.7% 96.4%
September 2017 98.5% 97.7% 97.6%
October 2017 98.3% 97.4% 98.1%
November 2017 98.4% 97.5% 98.3%
December 2017 98.1% 97.5% 97.4%
January 2018 98.3% 97.5% 96.7%
February 2018 97.7% 98.0% 98.1%
March 2018 98.4% 97.7% 100.2%
April 2018 98.8% 98.0% 98.5%
May 2018 99.1% 98.2% 99.2%
12-Month Avg.* 98.7% 97.9% 98.0% 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.
97.5% 97.5% 97.2%
98.7%98.0%
97.1%
99.1%98.2%
99.2%
Single Family Townhouse-Condo Adult Communities
May
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
96.8% 97.1% 97.1%98.1%
97.5% 97.2%98.5%
97.9%98.6%
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
+ 0.2%+ 0.5%+ 0.4%+ 1.2% + 0.4%+ 0.4%+ 1.3% + 0.4%
2016 2017 2018 2016 2017 2018 2016 2017 2018
- 0.2% - 0.1% + 0.3%+ 0.4% + 2.2%- 0.1%2016 2017 2018
- 0.1% + 1.4%+ 0.1%2016 2017 2018
+ 0.4%
Days on Market Until Sale
Historical Days on Market Until Sale by Month Single Family Townhouse-Condo Adult Communities
June 2017 58 51 95
July 2017 56 57 71
August 2017 57 64 84
September 2017 63 59 87
October 2017 68 62 69
November 2017 66 60 73
December 2017 73 61 85
January 2018 71 65 85
February 2018 78 68 76
March 2018 70 62 69
April 2018 62 53 51
May 2018 60 55 59
12-Month Avg.* 64 59 76 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.
74
6673
6661 6160
5559
Single Family Townhouse-Condo Adult Communities
May
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
86
7784
7769
80
6760
68
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 9.8%- 7.6%- 9.1%- 10.8% - 10.4%- 13.0%- 10.5% - 13.0%
2016 2017 2018 2016 2017 2018 2016 2017 2018
- 3.9% - 4.4% - 4.9%- 15.4% - 3.3%- 16.4%2016 2017 2018
- 20.7% - 15.0%- 4.8%2016 2017 2018
- 5.6%
Housing Affordability Index
Historical Housing Affordability Index by Month Single Family Townhouse-Condo Adult Communities
June 2017 111 173 122
July 2017 115 167 133
August 2017 116 177 146
September 2017 133 180 142
October 2017 134 188 121
November 2017 132 177 136
December 2017 132 172 134
January 2018 136 174 138
February 2018 140 183 139
March 2018 128 184 119
April 2018 123 169 107
May 2018 119 164 123
12-Month Avg.* 127 176 130 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.
120
168
132123
184
145
119
164
123
Single Family Townhouse-Condo Adult Communities
May
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
132
178
132135
184
144128
173
122
Single Family Townhouse-Condo Adult Communities
Year to Date
2016 2017 2018
- 10.9%+ 9.5%- 3.3%+ 2.5% + 3.4%- 5.2%+ 2.3% - 6.0%
2016 2017 2018 2016 2017 2018 2016 2017 2018
+ 1.7% + 3.9% 0.0%- 4.5% - 15.2%+ 9.8%2016 2017 2018
- 10.2% - 15.3%+ 9.1%2016 2017 2018
- 6.4%
Inventory of Homes for Sale
Historical Inventory of Homes for Sale by Month Single Family Townhouse-Condo Adult Communities
June 2017 10,869 1,697 238
July 2017 10,680 1,748 223
August 2017 10,280 1,716 194
September 2017 10,301 1,726 182
October 2017 9,795 1,640 182
November 2017 8,928 1,576 152
December 2017 7,568 1,340 136
January 2018 7,629 1,387 142
February 2018 7,980 1,406 149
March 2018 8,154 1,393 156
April 2018 8,898 1,508 158
May 2018 9,121 1,481 164
12-Month Avg. 9,184 1,552 173 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 June 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
12,546
2,049285
10,763
1,734237
9,121
1,481164
Single Family Townhouse-Condo Adult Communities
May
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- 14.6%- 15.4%- 15.3%- 14.2%
2016 2017 2018- 6.2% - 10.8% - 30.8%- 16.8%
2016 2017 2018+ 9.2%
Months Supply of Inventory
Historical Months Supply of Inventory by Month Single Family Townhouse-Condo Adult Communities
June 2017 5.8 4.1 5.6
July 2017 5.7 4.3 5.4
August 2017 5.4 4.2 4.5
September 2017 5.5 4.2 4.2
October 2017 5.2 3.9 4.2
November 2017 4.7 3.7 3.5
December 2017 4.0 3.2 3.2
January 2018 4.0 3.3 3.3
February 2018 4.2 3.3 3.6
March 2018 4.3 3.3 3.7
April 2018 4.6 3.5 3.9
May 2018 4.7 3.5 4.1
12-Month Avg.* 4.8 3.7 4.1 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 June 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 June 2017 through May 2018. This is not the average of the individual figures above.
7.5
5.2
7.4
5.8
4.3
5.74.7
3.54.1
Single Family Townhouse-Condo Adult Communities
May
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- 18.6%- 17.3%- 19.0%- 22.7%
2016 2017 2018- 16.7% - 20.0% - 28.1%- 23.0%
2016 2017 2018- 7.5%
Total Market Overview
Key Metrics Historical Sparklines 5-2017 5-2018 Percent Change YTD 2017 YTD 2018 Percent Change
--Months Supply 5.5 4.5 - 18.2% -- --
Data as of June 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
- 5.6%
Homes for Sale 12,734 10,766 - 15.5% -- -- --
Affordability Index 135 128 - 5.2% 144 136
+ 0.4%
Days on Market 65 59 - 9.2% 76 66 - 13.2%
Pct. of List Price Received 98.6% 98.9% + 0.3% 98.0% 98.4%
$405,340 + 1.0%
Median Sales Price $342,000 $345,000 + 0.9% $320,000 $325,000
Avg. Sales Price $422,004 $431,689 + 2.3% $401,272
9,878 9,917 + 0.4%
+ 1.6%
- 4.7%
Closed Sales 2,610 2,501 - 4.2%
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.
20,163 - 1.5%
Pending Sales 3,035 3,193 + 5.2% 12,293 12,598 + 2.5%
20,467New Listings 4,910 4,679
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018
5-2015 5-2016 5-2017 5-2018