Homes are selling fastest in these two NJ counties
It’s like a Six Flags Great Adventure ride that never ends. One without too many lows that keeps just bringing you higher and higher into the clouds. Well, as far as price anyway.
That’s what New Jersey’s real estate market is like. Buyers want to get off the ride while sellers never want it to end.
Not only is the lack of available inventory of homes for sale affecting prices but it’s also created a situation where homes can be sold far faster than before.
When I listed my home last fall with Rob Dekanski of Remax 1st Advantage the closing took some time because of the buyer’s situation, but the actual process from day it was listed until we had a signed deal? Six days. And for thousands over asking price.
According to a story on nj.com, the statewide average is 39 days for the month of October. But keep in mind that accounts for home sales from listing to closing date or being taken off the market, not just a deal being made.
So that’s fast. But where are homes selling the fastest?
Union County and Passaic County are kings of the hill. In those counties, it only took 29 days from listing until closing or withdrawal from market. That’s staggering compared to New Jersey’s average 39 days, and the national average is 50 days.
In fact, 20 of New Jersey’s 21 counties all sold faster than the national average in the month of October. The outlier was Cape May County at 52 days.
Here’s how all 21 counties broke down.
Union County
29 days
Passaic County
29 days
Morris County
31 days
Somerset County
32 days
Camden County
32 days
Gloucester County
32 days
Burlington County
34 days
Warren County
35 days
Bergen County
36 days
Mercer County
36 days
Hudson County
36 days
Essex County
37 days
Hunterdon County
38 days
Middlesex County
40 days
Sussex County
40 days
Monmouth County
44 days
Ocean County
44 days
Cumberland County
47 days
Salem County
47 days
Atlantic County
49 days
Cape May County
52 days
LOOK: Best counties to raise a family in New Jersey
Gallery Credit: Stacker
LOOK: Cities with the most expensive homes in New Jersey
Gallery Credit: Stacker
Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.
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