New Jersey has one of the largest single-family home market in the nation, according to a report released Tuesday.
The latest analysis by the U.S. Census Bureau found there were more than 22,000 four- and five-bedroom properties in the state.
“It’s the largest home market,” said Mike Dittmar, a real estate broker in Port Jervis, N.J. “You can’t beat the price of a four-bedroom.”
In New Jersey, the median price was $1.9 million.
The average asking price was a record $1 million, according the U, Census Bureau report.
The average asking for a four bedroom was $5.6 million.
It was also the highest asking price for a single-story home in the country.
According to the Census Bureau, there are 4,633 housing units for sale in the United States, a decrease from four years ago, when the count stood at 3,897.
That number rose by nearly 400 to 6,851 in 2018.
The median price for new listings was $415,000, down from $439,000 in 2017.
The median price of existing listings was up slightly from $397,000.
The Census Bureau estimates there are 9.2 million people in New Jersey who are renters.
In 2019, that number was up to 9.3 million.