New Jersey Homebuyers Rank Among America’s Top Negotiators

New Home prices have been on the rise across the United States. In New Jersey, there has been a 12.5% increase in all types of properties on the market over the last 18 months.

Home Buyers have been dealing with even steeper jumps since early in 2024:

-Single-family homes are up 13.4%
-townhouse-condos increased 13.9%

A major reason for these price surges is because of limited inventory. There are not enough homes on the market to meet the demands of the market.

Also, many homeowners are holding onto low mortgage rates they locked in years ago, so fewer people are selling because they do not want to get caught in the inflation surge.

But despite these housing market price increases, there is some good news for New Jersey home buyers according to new research from Agent Advice.

What Is The Good News For Home Buyers In New Jersey?

The research team at AgentAdvice.com surveyed 3,000 homeowners in all 50 states in America to find out their negotiations for new homes. They found that 54 percent of homebuyers admitted to walking away from making a deal when the seller refused to negotiate a lower price.

New Jersey Home Buyers Saved the fourth most average money thanks to negotiations before making a deal for their new property. NJ buyers saved an average of $19,634 thanks to negotiations before signing the dotted line.

The average home price listing in New Jersey is $503,432 so negotiating a savings of almost $20,000 off the sale price is significant.

Here are the states where Home Buyers are negotiating the Highest Average savings:

1. Hawaii - $37,756
2. California - $28,312
3. Colorado - $22,105
4. New Jersey - $19,634
5. Delaware - $19,461
6. Massachusetts - $18,489
7. Washington - $18,432
8. New York - $17,219
9. Oregon - $16,079
10. Montana - $15,688

That average home price listing in New Jersey of a half-million is inflated thanks to some of the most expensive zip codes in America are located in The Garden State.

Here are some of the NJ Real Estate Markets most expensive property areas of the state: