Nearly every New Jersey town is expected to continue seeing steady increases in home prices through the spring, according to the latest Zillow real estate forecast.
Lawnside, a township in Camden County, is expected to see the biggest increase at 3.20%. Two other towns – Ewing in Mercer County and Gibbsboro in Camden County – could also see 3% increases in real estate values.
Just eight towns out of the 547 New Jersey ZIP codes analyzed by Zillow are expected to see declines in home values by April. Those were all drops of 1.1% or less.
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A note about the data: Zillow’s calculation of “typical home value” is a trimmed mean, and behaves like a median value would to get a more accurate representation estimate. ZIP codes without enough data were omitted. Zillow uses typical home values as well as other variables to forecast what home values may look like in future months.
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Amira Sweilem may be reached at asweilem@njadvancemedia.com.
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Read More:N.J. real estate forecast keeps sizzling through spring. See latest town-by-town numbers.
2024-02-25 20:00:00