Margate City, NJ Homes For Sale - New Jersey Real Estate | BEX Realty (2024)

FAQs

Where are homes selling the fastest in NJ? ›

Considering the current market conditions, favorable interest rate environment, and outlook for the first half of 2024, now could indeed be a good time to sell your New Jersey house. With high demand, competitive pricing, and favorable financing options, sellers stand to benefit from entering the market at this time.

The median home price in New Jersey is $510,400 as of April 2024. This marks a 12.4% increase over last year, which is up there with some of the biggest jumps in the nation. In May of 2024, the national median home price was $438,601—New Jersey homes clearly hurdle right over this average.

Why are NJ homes more expensive? New Jersey's higher home prices are driven by two key factors: its proximity to New York City and its population density, which is the highest in the country, according to SmartAsset. The Garden State has two of America's wealthiest counties: Hunterdon and Somerset.

Again, June and July are the best months to close your house sale quickly. During these months, homes spend an average 24-27 days on the market, which is 10-15 days less than the rest of the months. Fewer days on the market is considered an indicator of a seller's market.

The runaway housing prices we've seen over the past few years in New Jersey should finally slow down in 2024, real estate experts say. And the market is expected to normalize. Falling interest rates should lead to more houses being listed for sale, helping prices level out.

Yes! Currently, there are very few buyers in the market compared to the supply of homes in New Jersey. The soaring interest rates has kept buyers at bay, so you can avoid bidding wars. As the mortgage rate stabilizes in 2024, more buyers will return, so we'd recommend you to buy a house now.

Sellers in the Garden State benefit from the high demand, which is reflected in the increasing median sale prices of homes. In terms of homeownership costs, New Jersey's median home price stands at a notable $494,900, having seen a significant year-over-year increase.

New Jersey is generally more affordable than New York City when it comes to housing, groceries, and other expenses. And this is, of course, the main reason for commuting to work. So, overall living costs are 53.3% higher in NYC than in NJ.

Is Jersey City a good place to invest in real estate? ›

Jersey City is a great place to consider when buying an investment property. The city offers a diverse range of housing options, a strong job market, and a high quality of life, making it an attractive location for both renters and property investors.

$537,916. The average New Jersey home value is $537,916, up 8.5% over the past year and goes to pending in around 16 days.

1 fastest-selling housing market: Hartford, Connecticut. As of January 2024, the fastest-selling housing market in the U.S. is Hartford, Connecticut.

Lakewood in Ocean County was the fastest-growing municipality in New Jersey, according to the data. In 2012, the population was 91,423. In 2022, it ballooned to 133,875, a 46% increase for a location that has become attractive to Orthodox Jewish families.