Finding a fantastic place to call home, it’s the “American Dream”.
How many houses are bought each year in the US?
According to Statista, “The number of home sales in the United States peaked in 2021 at almost seven million after steadily rising since 2018. Nevertheless, the market contracted in 2022, with transaction volumes estimated to fall below 4.8 million in 2023.”
Real Estate
According to NJ.com, homes are taking longer to sell in the Garden State as we enter a new year. They did a county-by-county breakdown of home sales stats in New Jersey:
What Counties Do Homes Sell Quickest In New Jersey?
Median Days on Market
| Burlington County | 40 |
|---|---|
| Gloucester County | 40 |
| Camden County | 42 |
| Union County | 44 |
| Middlesex County | 45 |
| Somerset County | 46 |
| Mercer County | 46 |
| Cumberland County | 49 |
| Bergen County | 50 |
| Essex County | 51 |
| Passaic County | 51 |
| Morris County | 51 |
| Warren County | 52 |
| Hudson County | 57 |
| Monmouth County | 57 |
| Ocean County | 58 |
| Atlantic County | 58 |
| Sussex County | 58 |
| Hunterdon County | 60 |
| Salem County | 72 |
| Cape May County | 73 |
Real Estate
New Jersey home sales have slowed statewide according to the latest data from December. The slowest county for home sales was Cape May County, while the fastest counties were Burlington and Gloucester. If you are selling a home have you seen it on the market for over 40 days? The amount of time is the fastest for home sales in New Jersey. While 40 days was the quickest, Cape May County took the longest at 73 days on the market.
Moving
According to NJ.com, “Statewide, homes sold within a median of 52 days. That’s nine days longer than a month earlier. Nationwide, homes remained on the market for a median of 61 days.”
