08820, Edison, NJ Real Estate & Homes for Sale | RE/MAX (2024)

FAQs

Where are homes selling the fastest in NJ? ›

Considering the current market conditions, favorable interest rate environment, and outlook for the first half of 2024, now could indeed be a good time to sell your New Jersey house. With high demand, competitive pricing, and favorable financing options, sellers stand to benefit from entering the market at this time.

$522,643. The average New Jersey home value is $522,643, up 9.8% over the past year and goes to pending in around 15 days.

Fastest growing towns in NJ

Lakewood in Ocean County was the fastest-growing municipality in New Jersey, according to the data. In 2012, the population was 91,423. In 2022, it ballooned to 133,875, a 46% increase for a location that has become attractive to Orthodox Jewish families.

Homes prices in New Jersey increased about 7% in 2023, following a 9% increase in 2022 and double digit increases in 2021 and 2020.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March. Just over 18 million purchase transactions took place during this period, according to ATTOM.

It looks like New Jersey's housing market may soon run out of steam. And that's unfortunate for so many living in The Garden State. According to a recent report released by ATTOM, New Jersey is among one of the top three states expected to see a housing market crash in 2024.

Best Time to Sell Your House for a Higher Price

April, June, and July are the best months to sell your house in California. The median sale price of houses in June 2023, was $796,400, which is expected to grow more in 2024. However, cities like Arcadia and San Mateo follow an upward trend throughout the year.

Two-bedroom rentals have seen the second largest rent decline at 6%, with median asking rents of $1,892. In comparison, one-bedroom rentals have seen a 0.1% increase in prices compared to January 2023, with median asking rents of $1,591.

"Economic vitality, job growth and population influx can drive demand, while supply constraints and low interest rates can amplify the increase in prices." New Jersey ranked behind No. 1 Connecticut, with a 9.56% increase, as well as No. 2 Maine and No.

How much should my house appreciate in 10 years? ›

How much will a house appreciate in 10 years? The rate of home appreciation varies greatly by location and market conditions. However, on average, homes have appreciated about 3-5% annually over the past decade.

The East of England (-1.7%), the South East (-1.6%) and the South West (-1.4%) are the worst hit when it comes to house price falls. London and the East Midlands are the final two regions where house prices have fallen over the last year, although these are minor at -0.7% and -0.2% respectively.

Starter homes are typically smaller, more affordable properties perfect for first-time buyers or individuals looking to downsize. They often feature two to three bedrooms and one or two bathrooms. What makes starter homes sell quickly is their affordability and broad appeal to a wide range of buyers.

Annual Increase In Home Prices By Major Cities

San Diego leads with an 11.4% price surge year-over-year in February 2024, the highest among the 20 cities analyzed, followed by Chicago and Detroit each recording an 8.9% increase. Charlotte, N.C. Washington, D.C.