Home values in New Jersey rose in December compared to the same time the previous year, the latest Zillow data showed.
Of the 548 ZIP codes Zillow analyzed, 545 saw home values increase. Three towns, Port Norris, Bridgeport and Shiloh, saw home values decrease compared to the same time in December 2023.
A ZIP code in the City of Camden, 08104, saw the largest increase in home values at about 22%.
According to a recent Redfin report, home prices increased nationwide and are likely to continue to rise.
In the report, Sheharyar Bokhari, senior economist at Redfin, said, “Prices will continue to rise consistently because it’s unlikely there will be enough new inventory to meet buyer demand.”
A note about the data: ZIP codes without enough data were omitted. Zillow calculates typical home values using a formula similar to the median, according to Jeff Tucker, senior economist at Zillow.
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Stories by Amira Sweilem
Amira Sweilem may be reached at asweilem@njadvancemedia.com.
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