Mercer County, NJ Real Estate Stats – Ending October 2022

Mercer County, NJ Real Estate Stats - October 2022

The NJ residential real estate market is slowly seeing the effects of the higher mortgage rates. There is still a shortage of housing inventory. However, the supply is slowly coming back up in Mercer County, NJ. It is still considered a sellers market, but each month is slowly changing. Through the end of October 2022, there were 1.5 months of housing inventory available. The average days on market for a home in Mercer County, NJ was 31 days (up from 22 days in August), and there were 482 homes available for sale. A total of 311 homes sold for an average of 99.3% of asking price.

Per the data listed above, it is still a very good time to sell your home. However, expect to get fewer offers, and anticipate a longer time on the market. As we continue through the rate increases, we will see how that has an effect on the overall housing inventory and market dynamics.

See the chart below for a town breakdown of Mercer County, NJ real estate stats for October 2022:











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