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In December 2024:
- The median sale price of a home was $533,500, which is nearly a 10% increase from 2023.
- The number of homes for sale reached 21,956, marking a 5.6% increase from 2023.
For comparison purposes, in December 2019:
- The median sale price was $326,600, reflecting a 63% increase over five years.
- The number of homes for sale was 44,286, which is a 50% decrease in comparison to now.
According to Yahoo! research, NJ was #1 state peopled moved from in 2024. Top motivators were retirement 22% and moving closer to family at 20%. Considering home prices keep rising here, it's another clear indicator we do not have enough homes for the people living here.
Top Outbound States in 2024:
1. New Jersey
2. Illinois
3. New York
4. California
5. Massachusetts
If you have any questions about the market in your area, feel free to reply to this email or call me.
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