NJ Realtors® Weekly—June 26

Published Jun 26, 2024

Here's Your Top Five Stories of the Week

1.  Median Sales Prices Continue to Rise Across All Markets
What Should I Know? The median sales price across all market segments increased more than 10%, according to New Jersey Realtors® May housing market data report.

Fast Facts: The total market median sales price is $475,000, an 11.8% increase.

2. CEPA Bill Makes Way Through Assembly
What's the Latest? The Real Estate Consumer Protection Enhancement Act, Bill S3192/A4454, was second referenced to the Assembly Budget Committee.

What Are the Key Takeaways? The bill will mandate the use of the seller's property condition disclosure statement, disclosure of representation at open houses, allow for designated agency, and mandate buyer agency agreements.

Feature Story of the Week
Stay Vigilant of Vacant Property Scams

The Newark FBI office warns real estate agents to take extra precautions if they receive vacant land sales solicitations.

Scammers are impersonating vacant property owners, asking for an all-cash sale with a quick closing, while the real property owner has no idea.

Watch the video below to hear from Special Agent Joe Cardosi about what he's seeing in the field.

3. Your Buyers Agency Agreement Questions Answered
What Should I Know? New FAQs about New Jersey Realtors® Buyers Agency Agreement are live on the antitrust webpage.

What Are the Top Questions?

  • When do we have buyers sign?
  • Do we need a separate buyer agreement for every property we show?
  • Please explain the difference between an exclusive and non-exclusive buyer agency agreement.
4. Webinar Announced to Learn How AI Can Transform Your Marketing Strategy
When is the Webinar? July 9, 10 a.m. Hosted by NJ Realtors® Member Perks Partner Constant Contact.

What Will It Cover? Easy ways to level up your marketing this summer with AI.

Numbers of the Week

Single Family Closed Sales in New Jersey Year-to-Date


Reach of @njrealtors recent Reel on Instagram.

$55.9 Billion

The proposed Fiscal Year 2025 State Budget


NJ Realtors® Member Perks Partners

5. Help Us Track Local Market Trends and You Could Win a $100 Gift Card
Tell Me More: Our bi-annual survey is live and we want your opinion on current economic conditions, housing prices, interest rates, and more. Participating members could enter to win a $100 gift card.

Where Can I Participate? Click here to take the survey.