Press Release 2/18/2005
According to statistics released by the NATIONAL ASSOCIATION OF REALTORS®, New Jersey's seasonally adjusted annual rate of home sales totaled 161,900 in the fourth quarter of 2004, compared to 157,200 in the fourth quarter of 2003, an increase of three percent. Median home sale prices across New Jersey showed double digit increases during the fourth quarter. Fourth quarter median sale prices in the Atlantic City area showed the largest increase from $182,100 in fourth quarter 2003 to $216,500 in 2004, an increase of 18.9%. The next highest increase was in the Monmouth/Ocean area with the median sale price rising from $290,400 to $338,400 an increase of 16.5%. Additional increases were also seen in the following areas:
| Metropolitan Area* |
4th Q 2003 |
4th Q 2004 |
% Chg. |
| Philadelphia/So. Jersey |
$162,600 |
$187,900 |
15.6% |
| Middlesex/Somerset/Hunterdon |
$311,400 |
$358,200 |
15.0% |
| Newark |
$321,500 |
$369,500 |
14.9% |
| Bergen/Passaic |
$370,200 |
$423,500 |
14.4% |
| Trenton |
$204,600 |
$229,400 |
12.1% |
