Low inventory and bidding wars have turned house hunting in New Jersey into a sport.
Homes statewide are selling, on average, in just 38 days. That’s 41% faster than they were selling a year ago, according to New Jersey Realtors data.
And they’re selling for 22% more than they were in 2020. The median sales price of a home in New Jersey was $428,000 as of July 2021, the most recent data available from New Jersey Realtors shows.
NJ Advance media told you about the places where the inventory is the lowest and now we’ve crunched the numbers and found the places that have the highest inventory per 1,000 people.
Using data from Redfin, which counts census-designated places not towns, we averaged the total housing inventory for every month in 2021. Then we compared the averages to the population to get the number of houses available per 1,000 people.
Statewide, that average is 2.6 houses per 1,000 people.
And, we hope you like South Jersey because more than…