Mercer County NJ Real Estate Market Trends

Let's take a look at the real estate market in Mercer County for the first half of 2015 compared to the same period last year.

The most significant increases have taken place in Adult Communities, where homes are selling fast, sales increased 39.3% and the median sales price increased to $310,000, a 26.5% increase.  See below for the statistics for each of our single-family home categories.

Single Family Detached Homes

  • New listings are up by 7.9%, at 2,691 homes, representing a 7.7 months supply of homes on the market.
  • Closed sales up 12.7%
  • The median sales price is nearly unchanged at around $272,000

Townhomes-Condos

  • There is no significant change in available inventory, with about a 7.5 months supply.
  • Closed sales are up by 7.8%
  • The median sales price is up by 7.2%, at $178,000

Adult Community Homes

  • There is only a 2.9 months supply of homes for sale in adult communities, down from 4.2 months in June of 2014.
  • Closed sales are up by 39.3% and homes are selling pretty fast
  • The median sale price has also significantly increased, from $245,000 to $310,000, a 26.5% increase.

 

Photo: Isaac Watson House, Hamilton Township, Mercer County, New Jersey. Headquarters of the New Jersey chapter of the Daughters of the American Revolution. Date 25 September 2013, Author Magicpiano

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