January 5, 2022
You picked a great time to get your New Jersey real estate license! As a real estate school, we had countless calls during 2021 from people who got their new real estate license at Garden State Real Estate Academy and who reported a few weeks later to say how well their new careers were progressing.
2021 was one of the best years in decades for real estate sales in New Jersey. The number of homes sold, compared to those sold in 2020 increased by around 4% in most of South Jersey—but were up by an amazing 14.5% in Mercer County. Median home prices were around 15% higher than the previous year, again, with Mercer County median home prices $45,000 higher than 2020.
Look at the time it took for homes to sell. In general, they sold for about half the time it took in 2020. This was in large part due to the perception among buyers that if they did not snap up a home—even at higher prices than they may have initially intended to pay—they would not find a home to buy. The old law of supply and demand is illustrated by the inventory of homes both during the year and as we start 2022. Gloucester County, for example, has 27.5% fewer homes listed for sale on December 31st 2021 than at the same point in 2020.
One of the reports your sphere of influence, farm, or database will most appreciate is a market activity review. Here is an example of the residential home sales for 2020 and 2021 for Burlington, Camden, Gloucester, and Mercer counties in New Jersey:
Burlington County.
2020 2021 Difference
Units sold 7,759 8,108 ↑ 4.5%
Median sale price $247,250 $285,000 ↑ $37,750 15.2%
Days on market 48 27 21 days fewer
December 31 Inventory 829 homes 671 homes 19% lower inventory
Camden County.
2020 2021 Difference
Units sold 7,717 7,999 ↑ 3.6%
Median sale price $210,000 $245,000 ↑ $35,000 16.7%
Days on market 44 24 20 days fewer
December 31 Inventory 717 homes 640 homes 11% lower inventory
Gloucester County.
2020 2021 Difference
Units sold 5,098 5,226 ↑ 2.5%
Median sale price $220,000 $255,000 ↑ $35,000 15.9%
Days on market 48 24 24 days fewer
December 31 Inventory 506 homes 367 homes 27.5% lower inventory
Mercer County.
2020 2021 Difference
Units sold 4,278 4,897 ↑ 14.5%
Median sale price $287,000 $332,000 ↑ $45,000 15.7%
Days on market 51 28 23 days fewer
December 31 Inventory 590 homes 500 homes 15.3% lower inventory
Has there ever been a better time to consider a real estate career? With real estate school classes during daytime and evenings, and all delivered by Zoom, there has never been a more convenient opportunity than today!
Want to get your real estate license?
Garden State Real Estate Academy offers live pre-licensing, broker licensing and Continuing Education classes for aspiring and existing New Jersey real estate agents. We also provide the “Supplemental Course” for out-of-state licensees wishing to earn their NJ license and our popular “Across the River” class to prepare NJ agents to pass the Pennsylvania real estate licensing exam. These are all delivered by live instructors via Zoom.
We also offer online self-study real estate licensing classes in 21 states through our partnership with The CE Shop. New Jersey does NOT allow self-study pre-licensing classes.
For information on the real estate school’s upcoming New Jersey licensing classes, click here: https://gsreacademy.com/pre-licensing-courses/
For real estate licensing classes in all other states, click here: https://gsreacademy.theceshop.com/pre-licensing
David C. Forward is a licensed real estate broker and instructor and was first licensed as a Realtor® 33 years ago. During his career, David and his business partner sold more than 500 homes in South Jersey. He is now School Director of Garden Real Estate Academy, has won numerous awards for real estate sales, is a much-requested public speaker who has addressed audiences on six continents and is the author of 19 books.
