As N.J. house sales fall, prices still rise – only more slowly

22 11 2007

The number of New Jersey house sales dropped 13.4 percent during the third quarter of 2007 from the same period in 2006, continuing a slide from the hyperactive sales pace of 2004 and 2005, the National Association of Realtors said Wednesday.

Home prices, however, have not followed. In the census area that includes Bergen and Passaic counties, prices were up 3.6 percent from the same period last year, to a median of $550,900 for an existing single-family home, the NAR said.

That may reflect high demand in New York City, which is in the same statistical area. The New Jersey Multiple Listing Service says that North Jersey prices have risen just about 1 percent over the last year, to a median of $520,000 in Bergen County and $389,000 in Passaic County. northjersey.com

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5 responses

11 02 2008
JoJo

When home prices come down to reasonable amounts instead of home owners trying to sell me a dump for 400k I’ll start looking agian, How dare you try & make more than double on the home you payed NOTHING for 40 years ago?? Keep keeping those overpriced, overvalued homes on the market without adjusting for what real people imcomes are and I will keep staying home and renting even with my 50k downpayment!

11 02 2008
JoJo

We want affordable housing in NJ NOWWWW, R U listening NJ government legislators?? We are sick of overpriced, overvalued home prices for people making 64k with 50k downpayments, still cannot afford a home in this horriblly taxed State!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

20 02 2008
teena

I couldn’t agree more with you! well said…anyone knows how home prices are in middlesex county..any statistics available? Thanks…

29 02 2008
charles

I agree so why dont you leave NJ?

30 07 2008
Bobby

I agree with JoJo, home prices in New Jersey are unattianable for somone like myself who makes 70k a year, I also have a decent down payment but can’t affrord these over priced homes and the very high taxes in new jersey, time to leave the State!!!!!!!!!!!!!!!!!!!

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