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2019 vs. 2024: Houses are harder to find and even harder to afford
The median list price of homes for sale nationwide has increased 37.5% compared to May 2019, five years ago.
Scripps News
According to an analysis of Realtor.com data, the median home price in Ocean County in July was $594,975, nearly the same as the previous month’s price of $595,000.
Compared to July 2023, the median home list price increased 8.2% to $550,000.
The statistics in this article refer only to homes for sale in Ocean County, not homes that have sold. For information on your local real estate market, as well as other useful community data, visit data.app.com.
The median home in Ocean County was 1,807 square feet and cost $313 per square foot. The price per square foot of homes for sale has increased 10.6% since July 2023.
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Listings in Ocean County moved briskly, with a median time on the market of 37 days compared to the national median of 50 days in July. The previous month, homes were on the market for a median of 35 days. There were approximately 966 new homes on the market in July, a 2.2% decrease from 988 new listings in July 2023.
Median home prices published by Realtor.com may exclude many or even most homes in a market. Price and volume refer only to single-family homes, condos or townhomes. They include existing homes but exclude most new construction and pending and contingent sales.
Across the New York-Newark-Jersey City metropolitan area, median home prices fell to $777,000, slightly below the previous month. The median living space was 1,500 square feet, and the list price was $534 per square foot.
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In New Jersey, median home prices were $599,000, the same as in June. The median home for sale in New Jersey was 1,762 square feet and priced at $310 per square foot.
Across the United States, the median home price was $439,950, down slightly from the previous month. The average size of a home for sale in the U.S. was 1,869 square feet, and the price was $231 per square foot.
The median home listing price used in this report represents the average of all homes or apartments offered for sale during the specified time period. Experts say the median provides a more accurate picture of market trends than the average listing price, which would divide the sum of all listing prices by the number of homes sold. The average can be skewed by a particularly low or high price.
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The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave feedback or corrections to this story here. This story was written by Ozge Terzioglu.
