From the National Association of Realtors:
Median Sales Price of Existing Single-Family Homes for Metropolitan Areas – Q4 2008
Metropolitan Area Single Family Median Home Price
Atlantic City, NJ
2007 Q4 – $278,800
2008 Q4 – $229,100 (Down 17.8% Year over Year)
New York-Northern New Jersey-Long Island, NY-NJ-PA
2007 Q4 – $457,400
2008 Q4 – $390,400 (Down 14.6% Year over Year)
New York-Wayne-White Plains, NY-NJ
2007 Q4 – $519,200
2008 Q4 – $458,600 (Down 11.7% Year over Year)
NY: Edison, NJ
2007 Q4 – $379,300
2008 Q4 – $343,600 (Down 9.4% Year over Year)
NY: Nassau-Suffolk, NY
2007 Q4 – $461,700
2008 Q4 – $381,300 (Down 17.4% Year over Year)
NY: Newark-Union, NJ-PA
2007 Q4 – $435,800
2008 Q4 – $373,600 (Down 14.3% Year over Year)
From the National Association of Realtors:
Median Sales Price of Existing Condos/Coops/Apts for Metropolitan Areas – Q4 2008
Metropolitan Area Existing Condo/Coop/Apt Median Home Price
New York-Wayne-White Plains, NY-NJ
2007 Q4 – $310,900
2008 Q4 – $292,600 (Down 5.9% Year over Year)
NY: Newark-Union, NJ-PA
2007 Q4 – $315,100
2008 Q4 – $279,300 (Down 11.4% Year over Year)
NY: Edison, NJ
2007 Q4 – $274,300
2008 Q4 – $262,800 (Down 4.2% Year over Year)
NY: Nassau-Suffolk, NY
2007 Q4 – $249,200
2008 Q4 – $231,800 (Down 7.0% Year over Year)
From the National Association of Realtors:
Total Sales: Single-Family, Condos and Co-ops
New Jersey Total Sales – Seasonally Adjusted Annual Rate
2005 – 154,900
2006 – 137,400
2007 Q4 – 119,400
2008 Q4 – 101,100 (Down 15.3% Year over Year)
From CNN/Money:
Home prices in record plunge
National Association of Realtors reports that home prices dropped a record 12.4% in 2008 – the biggest fall in 30 years.
Home prices fell 12.4% during 2008, the largest yearly decline since the National Association of Realtors began keeping comprehensive records in 1979.
The median price for a U.S. home sold during the fourth quarter of 2008 fell to $180,100, down from $205,700 during the last quarter of 2007.
…
The vast majority of metropolitan areas, 134 out of 153, recorded price declines compared with the last quarter of 2007.
From Bloomberg:
Home Prices Tumble in 88% of U.S. Cities on Foreclosures
Home prices fell in almost nine out of every 10 U.S. cities in the fourth quarter as foreclosure sales drove down prices.
The median price of a U.S. home declined 12 percent from a year earlier and sales of properties with mortgages in default accounted for 45 percent of all transactions, the Chicago-based National Association of Realtors said today. Prices fell in 134 U.S. metropolitan areas, rose in 18 and were unchanged in one, the biggest share of declines in data going back to 1979.
The worst U.S. housing slump since the Great Depression is deepening as foreclosures drain value from neighboring homes and the economic recession worsens. The number of Americans collecting unemployment benefits rose to a record 4.81 million in the last week of January as companies such as Caterpillar Inc. and Home Depot Inc. slashed jobs. The U.S. lost 2.6 million jobs last year in the biggest workforce reduction since 1945.
U.S. foreclosure filings exceeded 250,000 for the 10th straight month in January as falling prices trapped owners in homes worth less than the mortgage, RealtyTrac Inc. said in a report today.
From the AP:
Median home prices fell nationwide in 4Q
Home prices fell in nearly nine out of every 10 U.S. cities in the fourth quarter of last year as low-cost foreclosures flooded the market and the housing market’s decline spread nationwide.
The National Association of Realtors said Thursday that median sales prices of existing homes declined in 134 out of 153 metropolitan areas compared with the same period in 2007. Sales fell in all but six states.
Nationwide, the median sales price was $180,100, down 12 percent from a year ago. But price declines of 30 percent or more were found in much of California, plus parts of Michigan, Florida, Arizona and Nevada. The biggest drop, of more than 50 percent, was in Fort Myers, Fla.
…
A nasty brew of strict lending standards, falling home values, soaring foreclosures and a severe recession is filtering through the housing market.Nationwide, more than 274,000 homes received at least one foreclosure-related notice in January, according to RealtyTrac Inc., an Irvine, Calif.-based foreclosure listing service. That was down 10 percent from December, but still up 18 percent from the same month a year ago. The numbers would have been higher if not for efforts to stall the foreclosure process.
More than 2 million American homeowners faced foreclosure proceedings last year, and that number could soar as high as 10 million in the coming years depending on the severity of the recession, according to a report last month by Credit Suisse.