March 6, 2024 – MyMarketPulse (mymarketpulse.com) just released the list of the Hottest Markets in New Jersey for January 2024.
Where are homes selling fastest and at the best prices? Curious if there are markets in New Jersey where there is a high demand for homes? MyMarketPulse took a deep dive into it, exploring where in New Jersey the markets are the hottest.
What We Found
We looked at each county, pulling up the median sale prices sales volume from Redfin, focusing on counties with 25 or more home sales per month. We assign a MarketPulse score based on the three-month weighted average of home sales volume and sale prices versus previous twelve months. Counties were then ranked from highest to lowest based on this score.
The Highlights
In New Jersey, the hottest-selling market is Passaic County, where the MarketPulse Score is 101 and the median sales price comes in at $500,000 with 177 homes sold.
On the flip side, Salem County sits at the bottom of the market with a MarketPulse Score of 83 with 33 homes sold.
Hottest Markets in New Jersey
1. Passaic County. MarketPulse Score of 101
2. Sussex County. MarketPulse Score of 97
3. Hudson County. MarketPulse Score of 96
4. Cape May County. MarketPulse Score of 95
5. Monmouth County. MarketPulse Score of 94
For more information about the New Jersey market, visit MyMarketPulse.com.
MyMarketPulse is a free service of Digital Build Team (DBT, DigitalBuildTeam.com). Its goal is to help everyone quickly understand and compare real estate markets by providing timely data and visual analysis to help explain current market trends and predict future opportunities.
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