2021

Market Insights

Central New Jersey

Latest Issue — 2021 Report No. 1

A MESSAGE FROM OUR CEO

Despite the hardships of 2020, the real estate market showed resilience with strong demand and highly competitive supply.

In Central New Jersey unit sales were up over 8% from last year, which is incredible considering that at the beginning of the pandemic, our industry was essentially shut down for two months.

Larry Flick V

Chief Executive Officer

No

– by the numbers –
2020 Compared to 2019

-46%
Decrease in housing inventory
+8%
Increase in the number of homes sold
+15%
Increase in average home value, leading to shorter listing times and higher prices
3.15%
Average mortgage rate, near all-time lows increasing affordability
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