Still not much relief in sight for buyers as data from showed New Jersey came in second place in the nation for homes selling the fastest.

In February, homes here sold within a median of 39 days. That makes us tied for second with Massachusetts also at 39 days.

To give that perspective, the national average was 61 days for February. Where are they selling faster to take first place?

Real estate sign indicating sold house
Ryan McVay

Rhode Island, and only by one day. People are dying to be Peter Griffin’s neighbor? No thanks, Quahog. Homes are taking the longest to sell in the state of Montana.

Just like high prices, less time on market comes down to available inventory and basic supply and demand. In a separate study out this month there were signs of hope for buyers regarding inventory as a whole.

Nationwide, there were 14.8% more homes actively on sale on a typical day in February this year compared to February last year. 29 out of 50 of the largest metros showed an increase in inventory. Sadly, New Jersey was not one of them.

Natee Meepian
Natee Meepian

You would need a crystal ball to truly know when more affordable houses will be a reality in the Garden State.

Buyers who aren’t in a position to make outrageous overbids are continuing to alter plans. Smaller homes, fewer bedrooms, longer commutes to get into more reasonably-priced zip codes are all still in play.

LOOK: Best counties to retire to in New Jersey

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Gallery Credit: Stacker

Here's how NJ prices have changed: Now, 10, 20 years ago

From food items to popular clothing to entertainment outings — here's a roundup of what things cost in 2023, as compared to estimates from 2013 and 2003.

Gallery Credit: Erin Vogt

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.

You can now listen to Deminski & Doyle — On Demand! Hear New Jersey’s favorite afternoon radio show any day of the week. Download the Deminski & Doyle show wherever you get podcasts, on our free app, or listen right now.

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