Market Update – Hillside NJ
Market Update from an Expert Realtor in Hillside
Are you curious about the current housing market in Hillside, New Jersey? Then don’t miss this post! I’ve just reviewed the latest monthly statistics (August 2023) from NJrealtor.com, and it seems that the supply of single-family homes continues to be a challenge. New listings have eased by -46% compared to August 2022, making it tough for buyers to find their perfect home. However, if you’re looking for a well-priced home, you better act fast, as they’re still selling like hotcakes! On the other hand, overpriced or poorly maintained homes are staying on the market for longer. The median sale price experienced a significant 24% increase between August 22 and August 23, which was a one-time, substantial jump. However, when we analyze the year-to-date data for this year and compare it to the same period last year, the median price has increased by 12%. The average time on “days on the market” has increased by +3%.
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