2023-11-18 20:00:00
Nearly 8,000 new listings hit New Jersey’s real estate market last month as the majority of the United States continued to report declines in homeowners looking to sell, the latest Realtor.com data showed.
New Jersey’s listings were down 6.11% compared to October 2022, according to the data. The state’s median sale price for the 7,954 newly listed homes was $540,000.
A total of 348,564 homes were listed nationwide at a median price of $425,000. Just 11 states posted increases in the number of new listings compared to year earlier. The biggest decline was reported in Nevada, which saw a more than 21% year-over-year drop in new listings.
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New home listings have decreased nationwide because of high interest rates, according to a Redfin report. The average 30-year mortgage rate was 7.69% on Friday.
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Amira Sweilem may be reached at [email protected].
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