The ongoing COVID-19 pandemic has knocked many markets for a loop in New Jersey, but pending home sales are surging, up 44.5% in July over July 2019. Pending sales this past month totaled 16,029. Prices continue to creep up, with the year-to-date median sales price for all markets at $325,000, an 8.3% rise over 2019.
Pent-up demand is part of the reason for steep increase in sales. Inventory is limited throughout the state, with just 22,449 homes for sale in July, down 46.4% over July 2019.
Find all the numbers on New Jersey Realtor.