May 2022 RSS Feed

Found 1 blog entry for May 2022.

 


At nearly 6%, the 30-year fixed mortgage rate hit a 13 year high this month. Have buyers pulled back in our seller’s market?


Average Home Sale Prices

For the second time in history, home sale prices broke $700,000 in Staten Island last month. The average home now sells for $706,557. In New Jersey we see the same thing happening. For Monmouth and Ocean counties, prices came back to record levels at $551,061. Only in September of 2021 did average home prices eclipse that, coming in at $554,307.


Available Inventory

Inventory is also still struggling to keep up with demand. Active listings are down from last year in both markets. In New Jersey, active listings fell 26% from last year to 2,553 from 2021’s 3,439. Staten Island…

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