During the week of April 10th to April 17th, five counties in New Jersey experienced a surge of home transfers with varied median sale prices. This data was compiled and analyzed by Real Estate Newswire, a service provided by United Robots that utilizes machine learning algorithms to process real estate information sourced from Propmix.
In Camden County, the median sale for this period was a 1,612-square-foot home on Beacon Hill Drive in Sicklerville which sold for $275,000. Passaic County saw its median sale at a slightly smaller size—a 1,380-square-foot residence located on Englewood Road in Clifton—though it fetched a higher price tag of $437,000.
Bergen County showcased an impressive number of transactions during this timeframe: there were reported to be exactly 133 sales within just one week. The median residential property came out as being slightly larger than those seen in other counties; it measured up at about 1,637 square feet and sat along Kensington Road in Teaneck. Ultimately selling for $560,000—the highest recorded among all areas mentioned—it is no wonder why Bergen seems popular amongst buyers.
Morris County's housing market also enjoyed some activity last month when accounting for all transactions made between these dates tallying up to around 89 completions altogether. The area's average dwelling size reached approximately 1,848 square feet while homes situated upon Grove Avenue (in Morris Plains) cost roughly $495,000 apiece on average.
Finally turning towards Salem County reveals quite contrasting figures compared with others we have assessed so far; despite having fewer properties involved overall—only managing about half as many total transfers per annum—they still managed an increase over their counterparts elsewhere across NJ state lines due largely thanks primarily down-to-earth pricing policies wherein homeowners found themselves paying just $219,000 on average for their newly acquired 1,378-square-foot house located upon West Wilson Avenue in Woodstown.
"We are seeing a strong demand for housing across these counties in New Jersey," said Jane Thompson, a real estate agent with over 15 years of experience. "The market is quite competitive and buyers need to act quickly when they find the perfect home."
These insights not only provide valuable information about current housing trends but also showcase how technology—like United Robots' machine learning capabilities—are shaping industries like real estate by offering comprehensive data analysis services that aid professionals and consumers alike in making informed decisions.