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Monthly Snapshot
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Data as of November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime.
As we enter the final quarter of 2016, not much has changed since the year began. Market predictions have been, in a word, predictable. A relatively comfortable pace of activity has been maintained thanks to continuing low unemployment and mortgage rates. The one basic drag on market acceleration has been inventory decline. There is little to indicate that the low inventory situation will resolve anytime soon.
• Single Family Closed Sales were up 10.1 percent to 1,747. • Townhouse-Condo Closed Sales were up 1.2 percent to 423. • Adult Communities Closed Sales were down 20.0 percent to 44.
• Single Family Median Sales Price increased 3.9 percent to $350,000. • Townhouse-Condo Median Sales Price increased 14.5 percent to $271,631. • Adult Communities Median Sales Price decreased 0.6 percent to $317,500.
Builder confidence is as high as it has been in more than a decade, yet the pace of economic growth has been slow enough to cause pause. A low number of first-time buyer purchases and a looming demographic shift also seem to be curbing the desire to start new single-family construction projects. As older Americans retire and downsize, single-family listings are expected to rise. The waiting is the hardest part.
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
New Listings
Single Family Market OverviewTownhouse-Condo Market OverviewAdult Community Market Overview
Total Market Overview
One-Year Change in Closed SalesAll Properties
Monthly Indicators
October 2016
+ 7.5% - 19.8%One-Year Change in
Homes for SaleAll Properties
One-Year Change in Median Sales Price
All Properties
+ 4.2%
Pending SalesClosed Sales
Single Family Market Overview
Key Metrics Historical Sparklines 10-2015 10-2016 Percent Change YTD 2015 YTD 2016 Percent Change
Data as of November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 2
--
Months Supply 8.1 5.6 - 30.9% -- -- --
Homes for Sale 12,647 10,098 - 20.2% -- --
- 2.6%
Affordability Index 133 132 - 0.8% 118 125 + 5.9%
Days on Market 81 76 - 6.2% 77 75
- 2.7%
Pct. of List Price Received 96.6% 97.4% + 0.8% 97.3% 97.4% + 0.1%
Avg. Sales Price $413,472 $428,397 + 3.6% $468,773 $455,907
+ 10.6%
Median Sales Price $337,000 $350,000 + 3.9% $380,000 $372,000 - 2.1%
Closed Sales 1,587 1,747 + 10.1% 15,759 17,433
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.
31,594 - 0.2%
Pending Sales 1,606 1,826 + 13.7% 16,641 18,927 + 13.7%
31,645New Listings 2,641 2,468 - 6.6%
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
Townhouse-Condo Market Overview
Key Metrics Historical Sparklines 10-2015 10-2016 Percent Change YTD 2015 YTD 2016 Percent Change
6,225 - 3.0%
Pending Sales 374 429 + 14.7% 3,937 4,191 + 6.5%
6,418New Listings 605 451 - 25.5%
Closed Sales 418 423 + 1.2% 3,802 3,976 + 4.6%
- 1.9%
97.2%
$290,883 - 0.3%
Median Sales Price $237,250 $271,631 + 14.5% $260,000 $255,000
Avg. Sales Price $289,569 $295,680 + 2.1% $291,784
182
+ 0.2%
Days on Market 78 69 - 11.5% 73 69 - 5.5%
Pct. of List Price Received 96.0% 97.1% + 1.1% 97.0%
Affordability Index 189 171 - 9.5% 172
- 21.1% -- -- --
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 5.9 4.3 - 27.1% -- --
Data as of November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 3
+ 5.8%
Homes for Sale 2,205 1,740
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
Adult Community Market Overview
Key Metrics Historical Sparklines 10-2015 10-2016 Percent Change YTD 2015 YTD 2016 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.
659 + 7.3%
Pending Sales 46 39 - 15.2% 392 399 + 1.8%
614New Listings 51 63 + 23.5%
Closed Sales 55 44 - 20.0% 369 381 + 3.3%
- 0.3%
$365,733 + 1.9%
Median Sales Price $319,500 $317,500 - 0.6% $339,900 $339,000
Avg. Sales Price $331,482 $366,054 + 10.4% $358,966
+ 0.1%
Days on Market 85 73 - 14.1% 80 85 + 6.3%
Pct. of List Price Received 97.4% 98.3% + 0.9% 97.2% 97.3%
+ 3.8%
Homes for Sale 248 268 + 8.1% -- -- --
Affordability Index 140 146 + 4.3% 132 137
--Months Supply 7.0 7.1 + 1.4% -- --
Data as of November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 4
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
New Listings
Historical New Listings by Month Single Family Townhouse-Condo Adult Communities
November 2015 1,865 439 49
December 2015 1,375 303 28
January 2016 2,263 507 52
February 2016 2,860 591 64
March 2016 3,978 743 83
April 2016 4,050 728 79
May 2016 3,776 699 61
June 2016 3,598 661 66
July 2016 2,872 616 63
August 2016 2,599 575 67
September 2016 3,130 654 61
October 2016 2,468 451 63
12-Month Avg. 2,903 581 61 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 November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 5
2,648
549
48
2,641
605
51
2,468
451
63
Single Family Townhouse-Condo Adult Communities
October
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
Single Family Townhouse-Condo Adult Communities
29,122
5,967
562
31,645
6,418
614
31,594
6,225
659
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
- 25.5%+ 10.2%- 6.6%- 0.3% + 7.6%- 0.2%+ 8.7% - 3.0%
2014 2015 2016 2014 2015 2016 2014 2015 2016
+ 9.2% + 7.7% + 4.1%+ 2.4% + 23.5%+ 6.3%2014 2015 2016
+ 45.5% + 7.3%+ 9.3%2014 2015 2016
+ 8.5%
Pending Sales
Historical Pending Sales by Month Single Family Townhouse-Condo Adult Communities
November 2015 1,347 319 21
December 2015 1,232 317 31
January 2016 1,134 312 25
February 2016 1,517 378 24
March 2016 2,039 429 45
April 2016 2,164 511 46
May 2016 2,223 467 50
June 2016 2,208 454 39
July 2016 1,952 387 49
August 2016 1,968 423 41
September 2016 1,896 401 41
October 2016 1,826 429 39
12-Month Avg. 1,792 402 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 November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 6
A count of the properties on which offers have been accepted in a given month.
1,567
384
43
1,606
374
46
1,826
429
39
Single Family Townhouse-Condo Adult Communities
October
0
500
1,000
1,500
2,000
2,500
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
14,726
3,663
351
16,641
3,937
392
18,927
4,191
399
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 14.7%- 2.6%+ 13.7%+ 2.5% + 7.5%+ 13.7%+ 13.0% + 6.5%
2014 2015 2016 2014 2015 2016 2014 2015 2016
+ 5.2% - 2.4% + 0.2%+ 1.9% - 15.2%+ 7.0%2014 2015 2016
+ 16.2% + 1.8%+ 11.7%2014 2015 2016
- 5.6%
Closed Sales
Historical Closed Sales by Month Single Family Townhouse-Condo Adult Communities
November 2015 1,334 293 25
December 2015 1,711 402 40
January 2016 1,195 284 15
February 2016 1,047 264 25
March 2016 1,315 351 36
April 2016 1,549 388 32
May 2016 1,695 419 40
June 2016 2,354 517 42
July 2016 2,233 460 48
August 2016 2,376 476 56
September 2016 1,922 394 43
October 2016 1,747 423 44
12-Month Avg. 1,707 389 37 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 November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 7
A count of the actual sales that closed in a given month.
1,531
393
34
1,587
418
55
1,747
423
44
Single Family Townhouse-Condo Adult Communities
October
0
500
1,000
1,500
2,000
2,500
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
13,883
3,569
348
15,759
3,802
369
17,433
3,976
381
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 1.2%+ 6.4%+ 10.1%+ 3.7% + 6.5%+ 10.6%+ 13.5% + 4.6%
2014 2015 2016 2014 2015 2016 2014 2015 2016
+ 9.0% - 3.6% + 3.1%+ 7.4% - 20.0%+ 61.8%2014 2015 2016
- 15.0% + 3.3%+ 6.0%2014 2015 2016
0.0%
Median Sales Price
Historical Median Sales Price by Month Single Family Townhouse-Condo Adult Communities
November 2015 $340,000 $253,000 $344,000
December 2015 $347,750 $248,000 $317,500
January 2016 $322,500 $245,000 $337,000
February 2016 $315,000 $247,750 $319,000
March 2016 $322,700 $250,000 $340,000
April 2016 $348,500 $252,000 $339,000
May 2016 $375,000 $265,000 $340,000
June 2016 $412,000 $259,500 $316,750
July 2016 $410,000 $245,000 $326,000
August 2016 $410,000 $260,000 $357,450
September 2016 $360,000 $260,000 $347,900
October 2016 $350,000 $271,631 $317,500
12-Month Med.* $368,000 $255,000 $335,000 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 November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 8
* Median Sales Price for all properties from November 2015 through October 2016. This is not the average of the individual figures above.
$350,000
$265,000 $254,500
$337,000
$237,250
$319,500
$350,000
$271,631
$317,500
Single Family Townhouse-Condo Adult Communities
October
$100,000
$200,000
$300,000
$400,000
$500,000
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
$380,000
$260,000
$310,000
$380,000
$260,000
$339,900
$372,000
$255,000
$339,000
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 14.5%- 10.5%+ 3.9%- 3.7% 0.0%- 2.1%0.0% - 1.9%
2014 2015 2016 2014 2015 2016 2014 2015 2016
- 0.2% - 1.3% + 2.4%+ 2.1% - 0.6%+ 25.5%2014 2015 2016
- 29.6% - 0.3%+ 9.6%2014 2015 2016
+ 4.5%
Average Sales Price
Historical Average Sales Price by Month Single Family Townhouse-Condo Adult Communities
November 2015 $422,183 $290,126 $368,848
December 2015 $437,476 $283,474 $351,565
January 2016 $402,897 $275,763 $480,060
February 2016 $392,280 $280,174 $330,863
March 2016 $404,043 $275,010 $374,440
April 2016 $440,192 $281,649 $339,922
May 2016 $466,065 $309,457 $354,944
June 2016 $495,960 $298,356 $347,998
July 2016 $491,313 $286,581 $353,569
August 2016 $504,723 $302,049 $395,760
September 2016 $436,914 $288,932 $359,546
October 2016 $428,397 $295,680 $366,054
12-Month Avg.* $452,173 $290,197 $364,637 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 November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 9
* Avg. Sales Price for all properties from November 2015 through October 2016. This is not the average of the individual figures above.
$414,784
$296,585 $296,258
$413,472
$289,569
$331,482
$428,397
$295,680
$366,054
Single Family Townhouse-Condo Adult Communities
October
$200,000
$300,000
$400,000
$500,000
$600,000
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
$470,410
$296,733
$344,646
$468,773
$291,784
$358,966
$455,907
$290,883
$365,733
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 2.1%- 2.4%+ 3.6%- 0.3% - 1.7%- 2.7%- 0.3% - 0.3%
2014 2015 2016 2014 2015 2016 2014 2015 2016
- 3.8% + 0.3% + 3.1%+ 1.3% + 10.4%+ 11.9%2014 2015 2016
- 25.1% + 1.9%+ 4.2%2014 2015 2016
- 1.3%
Percent of List Price Received
Historical Percent of List Price Received by Month Single Family Townhouse-Condo Adult Communities
November 2015 96.4% 97.1% 97.6%
December 2015 96.6% 96.6% 96.8%
January 2016 96.6% 97.7% 97.5%
February 2016 96.4% 96.7% 98.8%
March 2016 96.6% 97.0% 96.1%
April 2016 96.8% 96.8% 96.6%
May 2016 97.5% 97.4% 97.2%
June 2016 97.9% 97.1% 97.5%
July 2016 98.4% 97.3% 96.8%
August 2016 98.0% 97.2% 97.1%
September 2016 97.2% 97.3% 97.6%
October 2016 97.4% 97.1% 98.3%
12-Month Avg.* 97.3% 97.1% 97.3% 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 November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 10
* Pct. of List Price Received for all properties from November 2015 through October 2016. This is not the average of the individual figures above.
96.4%97.0%
96.1%96.6%
96.0%
97.4%97.4% 97.1%
98.3%
Single Family Townhouse-Condo Adult Communities
October
92.0%
93.0%
94.0%
95.0%
96.0%
97.0%
98.0%
99.0%
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
97.0% 97.2% 96.8%97.3% 97.0% 97.2%97.4% 97.2% 97.3%
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 1.1%- 1.0%+ 0.8%+ 0.2% - 0.2%+ 0.1%+ 0.3% + 0.2%
2014 2015 2016 2014 2015 2016 2014 2015 2016
+ 0.3% + 0.5% + 0.7%+ 0.4% + 0.9%+ 1.4%2014 2015 2016
- 2.3% + 0.1%+ 0.4%2014 2015 2016
+ 0.2%
Days on Market Until Sale
Historical Days on Market Until Sale by Month Single Family Townhouse-Condo Adult Communities
November 2015 80 68 66
December 2015 85 75 74
January 2016 90 84 90
February 2016 92 84 91
March 2016 98 80 96
April 2016 82 75 76
May 2016 74 66 73
June 2016 68 59 69
July 2016 61 58 86
August 2016 67 63 104
September 2016 73 65 91
October 2016 76 69 73
12-Month Avg.* 77 69 83 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 November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 11
* Days on Market for all properties from November 2015 through October 2016. This is not the average of the individual figures above.
86
72
90
8178
85
7669
73
Single Family Townhouse-Condo Adult Communities
October
25
50
75
100
125
150
175
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
8075
86
7773
8075
69
85
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
- 11.5%+ 8.3%- 6.2%- 5.8% - 2.7%- 2.6%- 3.8% - 5.5%
2014 2015 2016 2014 2015 2016 2014 2015 2016
- 4.4% - 9.1% - 12.8%- 12.2% - 14.1%- 5.6%2014 2015 2016
- 4.3% + 6.3%- 7.0%2014 2015 2016
- 18.1%
Housing Affordability Index
Historical Housing Affordability Index by Month Single Family Townhouse-Condo Adult Communities
November 2015 131 175 129
December 2015 128 180 140
January 2016 137 181 131
February 2016 145 185 143
March 2016 141 181 133
April 2016 131 181 134
May 2016 122 172 134
June 2016 112 179 146
July 2016 113 189 142
August 2016 113 178 130
September 2016 129 178 133
October 2016 132 171 146
12-Month Avg.* 128 179 137 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 November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 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 November 2015 through October 2016. This is not the average of the individual figures above.
121
160 167
133
189
140132
171
146
Single Family Townhouse-Condo Adult Communities
October
75
100
125
150
175
200
225
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
112
163
137
118
172
132125
182
137
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
- 9.5%+ 18.1%- 0.8%+ 9.9% + 5.5%+ 5.9%+ 5.4% + 5.8%
2014 2015 2016 2014 2015 2016 2014 2015 2016
+ 1.7% + 3.7% - 0.6%- 0.6% + 4.3%- 16.2%2014 2015 2016
+ 44.0% + 3.8%- 3.6%2014 2015 2016
- 2.8%
Inventory of Homes for Sale
Historical Inventory of Homes for Sale by Month Single Family Townhouse-Condo Adult Communities
November 2015 11,685 2,110 261
December 2015 10,082 1,819 221
January 2016 10,019 1,811 230
February 2016 10,312 1,833 253
March 2016 11,110 1,945 273
April 2016 11,872 2,000 292
May 2016 12,258 2,020 283
June 2016 12,334 2,011 282
July 2016 11,983 2,035 280
August 2016 11,241 1,931 290
September 2016 10,938 1,955 275
October 2016 10,098 1,740 268
12-Month Avg. 11,161 1,934 267 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 November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 13
12,554
2,164
213
12,647
2,205
248
10,098
1,740268
Single Family Townhouse-Condo Adult Communities
October
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
Single Family Townhouse-Condo Adult Communities
2014 2015 2016- 21.1%+ 1.9%- 20.2%+ 0.7%
2014 2015 2016+ 9.6% + 3.9% + 8.1%+ 16.4%
2014 2015 2016+ 13.9%
Months Supply of Inventory
Historical Months Supply of Inventory by Month Single Family Townhouse-Condo Adult Communities
November 2015 7.4 5.6 7.3
December 2015 6.3 4.8 6.0
January 2016 6.2 4.7 6.2
February 2016 6.3 4.7 6.8
March 2016 6.6 4.9 7.2
April 2016 7.0 5.0 7.6
May 2016 7.2 5.1 7.4
June 2016 7.2 5.1 7.6
July 2016 7.0 5.2 7.6
August 2016 6.4 4.9 7.8
September 2016 6.2 4.9 7.2
October 2016 5.6 4.3 7.1
12-Month Avg.* 6.6 4.9 7.1 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 November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 14
* Months Supply for all properties from November 2015 through October 2016. This is not the average of the individual figures above.
9.0
6.2 6.5
8.1
5.97.0
5.64.3
7.1
Single Family Townhouse-Condo Adult Communities
October
0
5
10
15
20
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
2014 2015 2016- 27.1%- 4.8%- 30.9%- 10.0%
2014 2015 2016+ 9.8% + 1.6% + 1.4%+ 7.7%
2014 2015 2016+ 20.4%
Total Market Overview
Key Metrics Historical Sparklines 10-2015 10-2016 Percent Change YTD 2015 YTD 2016 Percent Change
--Months Supply 7.6 5.4 - 28.9% -- --
Data as of November 20, 2016. All data from the Garden State MLS and New Jersey MLS. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence level. Provided by New Jersey REALTORS®. Report © 2016 ShowingTime. | 15
+ 5.5%
Homes for Sale 15,100 12,106 - 19.8% -- -- --
Affordability Index 141 140 - 0.7% 128 135
+ 0.2%
Days on Market 81 75 - 7.4% 76 74 - 2.6%
Pct. of List Price Received 96.5% 97.4% + 0.9% 97.2% 97.4%
$424,218 - 2.0%
Median Sales Price $316,750 $330,000 + 4.2% $350,000 $342,500
Avg. Sales Price $386,062 $401,802 + 4.1% $432,928
19,930 21,790 + 9.3%
- 2.1%
- 9.6%
Closed Sales 2,060 2,214 + 7.5%
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.
38,478 - 0.5%
Pending Sales 2,026 2,294 + 13.2% 20,970 23,517 + 12.1%
38,677New Listings 3,297 2,982
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016
10-2013 10-2014 10-2015 10-2016