The 25 Best Places in NJ With the Largest Home Inventory
Low stocks and bidding wars have turned New Jersey home hunting into a sport.
Homes across the state sell, on average, in just 38 days. That’s 41% faster than a year ago, according to data from the New Jersey Realtors.
And they’re selling 22% more than in 2020. The median selling price of a New Jersey home was $ 428,000 in July 2021, according to the most recent data available from New Jersey Realtors.
NJ Advance Media has told you about the places with the lowest inventory and now we have calculated the numbers and found the places with the highest inventory per 1,000 people.
Using data from Redfin, which counts the places designated by the census and not the cities, we calculated the average of the total housing stock for each month in 2021. Then, we compared the averages to the population to obtain the number of houses available for 1,000 people.
Statewide, that average is 2.6 homes per 1,000 people.
And, we hope you like South Jersey because more than half of the places are there.
But the greatest concentration of places with the highest housing stock are in Bergen County in northern Jersey, which has six. Atlantic and Cape May each have five; The ocean has three; Sussex has two; and Monmouth, Somerset, Hunterdon and Morris counties each have one.
Here are the 25 places in New Jersey with the largest housing inventory per 1,000 residents:
25. Englewood Cliffs – 9.2
24. Morris Plains – 9.9
23. Northern Wildwood – 9.9
22. Cape May Courthouse – 10.1
21. The city of Neptune – 10.2
20. Ridgefield – 10.2
19. Newton – 10.3
18. Fort Lee – 10.4
17. Pleasant point – 10.7
16. Forked River – 11
15. Flemington – 11.5
14. Waterfront – 11.6
13. Upper Saddle River – 11.9
12. Wild wood – 12.6
11. Egg Harbor City – 13.6
10. Barnegat – 15. 0
9. Bridgewater – 15.7
8. Wildwood Ridge – 15.8
7. Town of Ventnor – 16.5
6. Hamburg – 17.2
5. Selle River – 17.9
4. Brigantine – 22.8
3. Town of Margate – 24.9
2. Mays Landing – 25.9
1. Ocean City – 34.4
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Here are the places in each NJ county where homes are selling the fastest.
The places in each NJ county where house prices have increased the most in the past year
Good luck finding a home in these 25 places in NJ. They have the lowest inventory in the state.
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