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Wednesday, January 22, 2025

Valuation: Pricing for the median home in Jersey County increased during Q3 2024

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The median sale price of a home sold in the third quarter of 2024 in Jersey County rose by $15,000, while total sales decreased by 1.4%, according to BlockShopper.com.

From July through September of 2024, 72 homes were sold in the county, with sale prices around $165,000. This is a 10% increase over the $150,000 median sale price during the same period in 2023, when there were 73 homes sold.

Based on the latest available data from 2021, the median sales tax on homes in Jersey County was $2,239, which equates to 1.4% of the median home sale price for the third quarter of 2024.

The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market's value in 2000.

“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.

The following histogram displays changes in median sales prices in Jersey County from July 2023 to September 2024.

Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024$150,000$150,000$156,050$156,050$146,250$146,250$164,700$164,700$165,000$165,000

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