NJAR Unveiled 2007 Profile of NJ Buyers and Sellers

According to the 2007 Profile of New Jersey Home Buyers and Sellers, home sales in New Jersey were healthy last year.

The survey conducted by the NATIONAL ASSOCIATION of REALTORS® (NAR) on behalf of the New Jersey Association of REALTORS® (NJAR®) found that the typical home was on the market for 10 weeks and sellers typically sold their homes for 97 percent of the listing price, while 37 percent of people did not reduce their asking price before their home was sold.

Ninety percent of sellers reported that their home was listed or advertised on the Internet and 84 percent of home buyers used the Internet to search for homes. The study also found that fifty-four percent of sellers used the same agent for their home purchase.

Source: NJAR

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