From the Star Ledger:
Home prices dropped in three out of four New Jersey metro areas tracked by the National Association of Realtors at the end of the fourth quarter.
Data compiled by the NAR showed median home prices for a single-family home in the Newark-Union area fell 1.1 percent from the previous year to $357,000. They dropped more dramatically in the Trenton-Ewing (down 5.7 percent to $232,900) and Atlantic City (down 4.7 percent to $217,200) areas.
Only the Edison region showed an increase, up 6.1 percent to $308,400.
The median price is where half of the homes sold for more and half sold for less.
Two other areas monitored by the NAR that cross state lines showed gains. The metropolitan region that includes Northern New Jersey, New York City and White Plains, N.Y., showed a 4.6 percent increase to $462,000. In Western New Jersey, the region that includes Allentown, Bethlehem and Easton jumped 8.7 percent to $199,700.