Monthly Snapshot 2 3 4 5 6 7 8 9 10 11 12 13 14 15 One-Year Change in Homes for Sale All Properties One-Year Change in Median Sales Price All Properties + 0.1% Pending Sales Closed Sales Monthly Indicators September 2016 + 6.3% - 19.1% Data as of October 20, 2016. All data from the Garden State 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. Demand has remained high through the first nine months of 2016, propping up closed sales and median sales prices despite heavy reductions in inventory and months of supply across the state. With rental prices and employment opportunities in a consistent climb, year-over-year increases in home buying are possible for the rest of the year but not guaranteed. • Single Family Closed Sales were up 7.1 percent to 2,422. • Townhouse-Condo Closed Sales were up 3.0 percent to 522. • Adult Communities Closed Sales were up 4.5 percent to 69. • Single Family Median Sales Price decreased 0.3 percent to $359,000. • Townhouse-Condo Median Sales Price increased 2.0 percent to $265,000. • Adult Communities Median Sales Price increased 3.4 percent to $347,500. In general, today's demand is driven by three factors: Millennials are reaching prime home-buying age, growing families are looking for larger homes and empty nesters are downsizing. However, intriguingly low interest rates often prompt refinancing instead of listing, contributing to lower inventory. Recent studies have also shown that short-term rentals are keeping a collection of homes off the market. For residential real estate activity in Garden State MLS. Percent changes are calculated using rounded figures. Median Sales Price Average Sales Price Percent of List Price Received Days on Market Until Sale Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory New Listings Single Family Market Overview Townhouse-Condo Market Overview Adult Community Market Overview Total Market Overview One-Year Change in Closed Sales All Properties
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Monthly Snapshot
23456789
101112131415
One-Year Change in Homes for SaleAll Properties
One-Year Change in Median Sales Price
All Properties
+ 0.1%
Pending SalesClosed Sales
Monthly Indicators
September 2016
+ 6.3% - 19.1%
Data as of October 20, 2016. All data from the Garden State 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.
Demand has remained high through the first nine months of 2016, propping up closed sales and median sales prices despite heavy reductions in inventory and months of supply across the state. With rental prices and employment opportunities in a consistent climb, year-over-year increases in home buying are possible for the rest of the year but not guaranteed.
• Single Family Closed Sales were up 7.1 percent to 2,422. • Townhouse-Condo Closed Sales were up 3.0 percent to 522. • Adult Communities Closed Sales were up 4.5 percent to 69.
• Single Family Median Sales Price decreased 0.3 percent to $359,000. • Townhouse-Condo Median Sales Price increased 2.0 percent to $265,000. • Adult Communities Median Sales Price increased 3.4 percent to $347,500.
In general, today's demand is driven by three factors: Millennials are reaching prime home-buying age, growing families are looking for larger homes and empty nesters are downsizing. However, intriguingly low interest rates often prompt refinancing instead of listing, contributing to lower inventory. Recent studies have also shown that short-term rentals are keeping a collection of homes off the market.
For residential real estate activity in Garden State MLS. 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
Single Family Market Overview
Key Metrics Historical Sparklines 9-2015 9-2016 Percent Change YTD 2015 YTD 2016 Percent Change
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.
New Listings 3,967 3,911 - 1.4% 37,045 + 0.5%
Pending Sales 2,013 2,429 + 20.7% 19,136 21,848 + 14.2%
36,877
+ 10.9%
Median Sales Price $360,000 $359,000 - 0.3% $374,000 $365,000 - 2.4%
Closed Sales 2,262 2,422 + 7.1% 18,012 19,968
- 3.0%
Pct. of List Price Received 97.0% 97.3% + 0.3% 97.2% 97.4% + 0.2%
Avg. Sales Price $437,553 $433,294 - 1.0% $460,770 $447,115
- 2.6%
Affordability Index 121 127 + 5.0% 117 125 + 6.8%
Days on Market 74 74 0.0% 77 75
-- --
Homes for Sale 16,779 13,453 - 19.8% -- --
Data as of October 20, 2016. All data from the Garden State 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 8.4 5.9 - 29.8% --
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
Townhouse-Condo Market Overview
Key Metrics Historical Sparklines 9-2015 9-2016 Percent Change YTD 2015 YTD 2016 Percent Change
--Months Supply 6.2 4.9 - 21.0% -- --
Data as of October 20, 2016. All data from the Garden State 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
+ 5.4%
Homes for Sale 2,946 2,463 - 16.4% -- -- --
Affordability Index 169 172 + 1.8% 166 175
+ 0.1%
Days on Market 72 65 - 9.7% 75 69 - 8.0%
Pct. of List Price Received 96.6% 97.3% + 0.7% 97.0% 97.1%
$294,837 + 0.2%
Median Sales Price $259,900 $265,000 + 2.0% $265,000 $260,000
Avg. Sales Price $288,737 $298,349 + 3.3% $294,181
4,281 4,510 + 5.3%
- 1.9%
+ 3.6%
Closed Sales 507 522 + 3.0%
Key metrics for Townhouses and Condominiums Only for the report month and for year-to-date (YTD) starting from the first of the year.
7,511 - 0.3%
Pending Sales 473 527 + 11.4% 4,482 4,802 + 7.1%
7,533New Listings 806 835
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
Adult Community Market Overview
Key Metrics Historical Sparklines 9-2015 9-2016 Percent Change YTD 2015 YTD 2016 Percent Change
--Months Supply 7.5 6.8 - 9.3% -- --
Data as of October 20, 2016. All data from the Garden State 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
+ 8.3%
Homes for Sale 421 389 - 7.6% -- -- --
Affordability Index 135 135 0.0% 133 144
+ 0.1%
Days on Market 77 85 + 10.4% 80 88 + 10.0%
Pct. of List Price Received 96.9% 97.4% + 0.5% 96.9% 97.0%
$350,010 - 1.7%
Median Sales Price $336,000 $347,500 + 3.4% $342,500 $326,000
Avg. Sales Price $353,109 $348,507 - 1.3% $356,123
510 + 1.8%
- 4.8%
Closed Sales 66 69 + 4.5% 501
919 + 1.7%
Pending Sales 43 68 + 58.1% 535 554 + 3.6%
904
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.
New Listings 106 92 - 13.2%
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
New Listings
Historical New Listings by Month Single Family Townhouse-Condo Adult Communities
October 2015 3,426 744 88
November 2015 2,412 542 78
December 2015 1,782 399 43
January 2016 2,951 644 94
February 2016 3,644 773 99
March 2016 5,104 999 124
April 2016 5,119 961 119
May 2016 4,777 928 102
June 2016 4,556 872 94
July 2016 3,640 757 94
August 2016 3,343 742 101
September 2016 3,911 835 92
12-Month Avg. 3,722 766 94 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 October 20, 2016. All data from the Garden State 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
3,747
793
114
3,967
806
106
3,911
835
92
Single Family Townhouse-Condo Adult Communities
September
0
1,000
2,000
3,000
4,000
5,000
6,000
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
33,979
7,005
853
36,877
7,533
904
37,045
7,511
919
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 3.6%+ 1.6%- 1.4%+ 5.9% + 7.5%+ 0.5%+ 8.5% - 0.3%
2014 2015 2016 2014 2015 2016 2014 2015 2016
+ 16.7% + 7.3% + 4.1%+ 11.7% - 13.2%- 7.0%2014 2015 2016
+ 35.7% + 1.7%+ 6.0%2014 2015 2016
+ 4.4%
Pending Sales
Historical Pending Sales by Month Single Family Townhouse-Condo Adult Communities
October 2015 2,129 489 59
November 2015 1,733 413 33
December 2015 1,594 381 42
January 2016 1,442 389 37
February 2016 1,907 473 46
March 2016 2,588 554 69
April 2016 2,789 626 60
May 2016 2,833 605 75
June 2016 2,835 585 66
July 2016 2,501 495 70
August 2016 2,524 548 63
September 2016 2,429 527 68
12-Month Avg. 2,275 507 57 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 October 20, 2016. All data from the Garden State 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.
1,847
449
52
2,013
473
43
2,429
527
68
Single Family Townhouse-Condo Adult Communities
September
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
Single Family Townhouse-Condo Adult Communities
16,732
4,104
500
19,136
4,482
535
21,848
4,802
554
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 11.4%+ 5.3%+ 20.7%+ 9.0% + 9.2%+ 14.2%+ 14.4% + 7.1%
2014 2015 2016 2014 2015 2016 2014 2015 2016
+ 15.2% - 4.3% - 3.4%+ 16.0% + 58.1%- 17.3%2014 2015 2016
+ 10.6% + 3.6%+ 7.0%2014 2015 2016
- 4.2%
Closed Sales
Historical Closed Sales by Month Single Family Townhouse-Condo Adult Communities
October 2015 2,073 516 67
November 2015 1,749 382 36
December 2015 2,223 510 58
January 2016 1,556 346 24
February 2016 1,368 337 37
March 2016 1,699 422 53
April 2016 1,934 488 53
May 2016 2,169 537 62
June 2016 2,986 639 65
July 2016 2,814 583 73
August 2016 3,020 636 74
September 2016 2,422 522 69
12-Month Avg. 2,168 493 56 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 October 20, 2016. All data from the Garden State 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.
2,006
466
60
2,262
507
66
2,422
522
69
Single Family Townhouse-Condo Adult Communities
September
0
1,000
2,000
3,000
4,000
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
15,676
3,948
513
18,012
4,281
501
19,968
4,510
510
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 3.0%+ 8.8%+ 7.1%+ 12.8% + 8.4%+ 10.9%+ 14.9% + 5.3%
2014 2015 2016 2014 2015 2016 2014 2015 2016
+ 4.8% - 6.4% - 2.6%- 3.7% + 4.5%+ 10.0%2014 2015 2016
+ 3.4% + 1.8%- 2.3%2014 2015 2016
+ 4.1%
Median Sales Price
Historical Median Sales Price by Month Single Family Townhouse-Condo Adult Communities
October 2015 $330,000 $244,000 $333,000
November 2015 $340,000 $260,000 $355,000
December 2015 $340,000 $255,000 $329,875
January 2016 $320,299 $255,000 $330,000
February 2016 $314,950 $250,000 $295,000
March 2016 $320,000 $246,000 $325,000
April 2016 $340,000 $260,000 $315,000
May 2016 $360,000 $265,000 $325,000
June 2016 $395,000 $267,500 $316,000
July 2016 $392,000 $251,000 $336,000
August 2016 $395,000 $265,000 $339,500
September 2016 $359,000 $265,000 $347,500
12-Month Med.* $357,000 $259,000 $329,950 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 October 20, 2016. All data from the Garden State 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 October 2015 through September 2016. This is not the average of the individual figures above.
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
$360,000
$272,000
$354,950$360,000
$259,900
$336,000$359,000
$265,000
$347,500
Single Family Townhouse-Condo Adult Communities
September
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
$375,000
$264,150
$324,950
$374,000
$265,000
$342,500$365,000
$260,000
$326,000
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 2.0%- 4.4%- 0.3%0.0% + 0.3%- 2.4%- 0.3% - 1.9%
2014 2015 2016 2014 2015 2016 2014 2015 2016
- 2.7% - 0.5% + 2.4%+ 6.5% + 3.4%- 5.3%2014 2015 2016
- 0.0% - 4.8%+ 5.4%2014 2015 2016
+ 3.2%
Average Sales Price
Historical Average Sales Price by Month Single Family Townhouse-Condo Adult Communities
October 2015 $404,378 $290,281 $331,588
November 2015 $414,044 $297,626 $369,630
December 2015 $427,850 $288,590 $353,377
January 2016 $399,226 $287,681 $411,290
February 2016 $384,138 $282,430 $324,232
March 2016 $399,686 $275,448 $361,987
April 2016 $430,498 $285,113 $341,328
May 2016 $451,060 $304,732 $352,014
June 2016 $480,534 $301,760 $318,233
July 2016 $476,528 $294,955 $335,856
August 2016 $485,260 $307,253 $382,069
September 2016 $433,294 $298,349 $348,507
12-Month Avg.* $439,842 $294,080 $349,513 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 October 20, 2016. All data from the Garden State 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 October 2015 through September 2016. This is not the average of the individual figures above.
Average sales price for all closed sales, not accounting for seller concessions, in a given month.
$445,257
$319,261$352,913
$437,553
$288,737
$353,109
$433,294
$298,349
$348,507
Single Family Townhouse-Condo Adult Communities
September
$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
$464,842
$300,439
$344,807
$460,770
$294,181
$356,123
$447,115
$294,837
$350,010
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 3.3%- 9.6%- 1.0%- 1.7% - 2.1%- 3.0%- 0.9% + 0.2%
2014 2015 2016 2014 2015 2016 2014 2015 2016
- 2.1% - 0.6% + 4.1%+ 7.3% - 1.3%+ 0.1%2014 2015 2016
- 7.9% - 1.7%+ 3.3%2014 2015 2016
- 0.2%
Percent of List Price Received
Historical Percent of List Price Received by Month Single Family Townhouse-Condo Adult Communities
October 2015 96.7% 96.2% 97.1%
November 2015 96.3% 97.2% 97.1%
December 2015 96.5% 96.5% 96.9%
January 2016 96.6% 97.6% 95.2%
February 2016 96.5% 96.6% 98.0%
March 2016 96.6% 97.0% 95.5%
April 2016 96.7% 96.7% 96.5%
May 2016 97.5% 97.4% 97.3%
June 2016 97.9% 97.1% 97.3%
July 2016 98.3% 97.2% 97.5%
August 2016 97.8% 97.3% 97.2%
September 2016 97.3% 97.3% 97.4%
12-Month Avg.* 97.2% 97.0% 97.0% 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 October 20, 2016. All data from the Garden State 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 October 2015 through September 2016. This is not the average of the individual figures above.
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.
96.6%97.1% 97.5%97.0%
96.6% 96.9%97.3% 97.3% 97.4%
Single Family Townhouse-Condo Adult Communities
September
93.0%
94.0%
95.0%
96.0%
97.0%
98.0%
99.0%
100.0%
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
97.0% 97.0% 97.1%97.2% 97.0% 96.9%97.4% 97.1% 97.0%
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 0.7%- 0.5%+ 0.3%+ 0.4% 0.0%+ 0.2%+ 0.2% + 0.1%
2014 2015 2016 2014 2015 2016 2014 2015 2016
- 0.2% + 0.5% + 0.6%0.0% + 0.5%- 0.6%2014 2015 2016
+ 0.5% + 0.1%- 0.2%2014 2015 2016
+ 0.1%
Days on Market Until Sale
Historical Days on Market Until Sale by Month Single Family Townhouse-Condo Adult Communities
October 2015 82 80 86
November 2015 80 69 68
December 2015 84 79 75
January 2016 89 85 98
February 2016 93 82 91
March 2016 95 80 101
April 2016 82 77 82
May 2016 74 67 83
June 2016 67 59 84
July 2016 62 61 80
August 2016 67 64 94
September 2016 74 65 85
12-Month Avg.* 77 71 85 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 October 20, 2016. All data from the Garden State 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 October 2015 through September 2016. This is not the average of the individual figures above.
Average number of days between when a property is listed and when an offer is accepted in a given month.
8172
97
74 727774
65
85
Single Family Townhouse-Condo Adult Communities
September
50
75
100
125
150
175
200
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
79 76
87
77 7580
7569
88
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
- 9.7%0.0%0.0%- 8.6% - 1.3%- 2.6%- 2.5% - 8.0%
2014 2015 2016 2014 2015 2016 2014 2015 2016
- 1.2% - 9.2% - 11.6%- 2.7% + 10.4%- 20.6%2014 2015 2016
+ 40.6% + 10.0%- 8.0%2014 2015 2016
- 13.9%
Housing Affordability Index
Historical Housing Affordability Index by Month Single Family Townhouse-Condo Adult Communities
October 2015 132 180 137
November 2015 127 168 128
December 2015 128 171 138
January 2016 135 170 137
February 2016 143 180 157
March 2016 139 181 142
April 2016 132 172 147
May 2016 124 169 142
June 2016 115 170 149
July 2016 116 181 140
August 2016 115 172 139
September 2016 127 172 135
12-Month Avg.* 128 174 141 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 October 20, 2016. All data from the Garden State 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 October 2015 through September 2016. This is not the average of the individual figures above.
113
150
118121
169
135127
172
135
Single Family Townhouse-Condo Adult Communities
September
80
100
120
140
160
180
200
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
109
154
129117
166
133125
175
144
Single Family Townhouse-Condo Adult Communities
Year to Date
2014 2015 2016
+ 1.8%+ 12.7%+ 5.0%+ 7.1% + 7.8%+ 6.8%+ 7.3% + 5.4%
2014 2015 2016 2014 2015 2016 2014 2015 2016
+ 1.8% + 0.9% - 2.5%- 6.3% 0.0%+ 14.4%2014 2015 2016
- 0.8% + 8.3%+ 3.1%2014 2015 2016
- 4.4%
Inventory of Homes for Sale
Historical Inventory of Homes for Sale by Month Single Family Townhouse-Condo Adult Communities
October 2015 15,973 2,875 419
November 2015 14,782 2,709 435
December 2015 12,725 2,365 373
January 2016 12,720 2,356 384
February 2016 13,092 2,385 405
March 2016 14,160 2,550 424
April 2016 15,022 2,658 457
May 2016 15,477 2,699 445
June 2016 15,497 2,653 427
July 2016 14,964 2,635 418
August 2016 13,951 2,490 431
September 2016 13,453 2,463 389
12-Month Avg. 14,318 2,570 417 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 October 20, 2016. All data from the Garden State 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
The number of properties available for sale in active status at the end of a given month.
16,786
2,923
381
16,779
2,946
421
13,453
2,463389
Single Family Townhouse-Condo Adult Communities
September
0
5,000
10,000
15,000
20,000
25,000
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
2014 2015 2016- 16.4%+ 0.8%- 19.8%- 0.0%
2014 2015 2016+ 10.6% + 6.4% - 7.6%+ 10.5%
2014 2015 2016+ 3.8%
Months Supply of Inventory
Historical Months Supply of Inventory by Month Single Family Townhouse-Condo Adult Communities
October 2015 8.0 6.1 7.6
November 2015 7.3 5.7 7.9
December 2015 6.2 4.9 6.7
January 2016 6.2 4.8 6.9
February 2016 6.3 4.9 7.2
March 2016 6.6 5.1 7.5
April 2016 6.9 5.3 8.1
May 2016 7.1 5.4 7.8
June 2016 7.0 5.3 7.6
July 2016 6.8 5.3 7.6
August 2016 6.2 5.0 7.8
September 2016 5.9 4.9 6.8
12-Month Avg.* 6.7 5.2 7.5 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 October 20, 2016. All data from the Garden State 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 October 2015 through September 2016. This is not the average of the individual figures above.
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.
9.5
6.77.3
8.4
6.27.5
5.94.9
6.8
Single Family Townhouse-Condo Adult Communities
September
4
6
8
10
12
14
16
18
1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016
Single Family Townhouse-Condo Adult Communities
2014 2015 2016- 21.0%- 7.5%- 29.8%- 11.6%
2014 2015 2016+ 10.5% + 6.3% - 9.3%+ 2.7%
2014 2015 2016+ 9.0%
Total Market Overview
Key Metrics Historical Sparklines 9-2015 9-2016 Percent Change YTD 2015 YTD 2016 Percent Change
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.
New Listings 4,879 4,838 - 0.8% 45,475 + 0.4%
Pending Sales 2,529 3,024 + 19.6% 24,153 27,204 + 12.6%
45,314
Closed Sales 2,835 3,013 + 6.3% 22,794 24,988 + 9.6%
- 2.2%
$417,644 - 2.2%
Median Sales Price $339,600 $340,000 + 0.1% $347,500 $340,000
Avg. Sales Price $408,923 $407,934 - 0.2% $427,151
+ 0.1%
Days on Market 73 72 - 1.4% 77 75 - 2.6%
Pct. of List Price Received 97.0% 97.3% + 0.3% 97.2% 97.3%
+ 6.3%
Homes for Sale 20,146 16,305 - 19.1% -- -- --
Affordability Index 129 134 + 3.9% 126 134
--Months Supply 8.0 5.7 - 28.8% -- --
Data as of October 20, 2016. All data from the Garden State 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
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
9-2013 9-2014 9-2015 9-2016
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