Median Sales Price Continues to Rise
While prices are high, buyers are beginning to bid under asking, with the percentage of list price received decreasing 1.8% year-to-date to 99.2%.Mortgage interest rates and sales prices are on the rise while inventory was at an all-time low in February. According to NJ Realtors® February reports, the median sales price year-to-date is $400,000 and there were just 18,679 homes for sale across all categories.
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