I've been writing about how affordable homes in central New Jersey are for some time now. I know my readers take that with a grain of salt. But today I was reading an article where New Jersey was left off the list. It was neither high nor low. That tells me, just like the story of the three bears, this one is just right. Yes, home prices in Mercer County, NJ are just right.
The article was published by RISMedia and it quoted statistics gathered by another real estate company. According to the 2009 Market Survey, the most expensive homes are found in La Jolla, California and the least expensive homes are found in Grayling, Michigan. The average home price in La Jolla was $2,125,000 and in Grayling was $112,675.
That sure leaves a lot of room in between for the interpretation of affordability. I also learned from this article that the average nationwide price for a 2,200 sq. ft., 4-bedroom, 2.5-bath home was $363,460. This statistic is relevant. You can't look at the highs and lows and determine what is going on in the market and whether or not we are comparable, better or worse. You can however look at the cumulative number and make a determination.
I encourage you to do a little research on your own right now. Click over to the NJ Home Source website and look at the homes listed for sale. What are the pricepoints? What do the neighborhoods and communities look like? I think you will agree with me that Mercer County, NJ offers the best bang for your buck and and has affordability written all over it.
When you are finished looking online, let's talk. Call me at (609) 658-2612. ~ Joe Giancarli
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