Contact Us
Make My Homepage

NJ Home Prices On The Rise

New Jersey home prices are on the rise.  According to a report by the National Association of Realtors, all eight of New Jersey’s metropolitan areas saw growth. The 2013 Second Quarter Metropolitan Area Home Prices report showed substantial growth at nearly 20 percent in the Allentown-Bethlehem-Easton, PA-NJ metro area.  Even the market in Edison, which had been trending negatively, showed modest growth at 0.8 percent.

“Because of the slower foreclosure process in New Jersey, our real estate market’s recovery has been behind the curve,” said Jarrod Grasso, CEO of the New Jersey Association of Realtors. “However, the second quarter of this year has shown signs that the Garden State’s real estate market is getting back on track with our median home price growth rate similar to that of the Northeastern United States.”

Low inventory has helped stabilize sale prices in most areas of the state and even increased them in most metro areas according to Grasso. He said it should be noted that home prices are still lower than the real estate boom era and interest rates are still low, but rising.

Grasso hopes that as potential sellers see home prices starting to rise, they’ll be more likely to list their homes, leading to a stronger marketplace.

Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.