Year-over-year housing prices in New Jersey through November were down 0.7 percent, to $258,000, according to the zillow.com website. Only five of the state’s 21 counties showed increases, led by Hudson (up 8.9 percent) and Cape May (4.8 percent) counties. The biggest drops were in Cumberland (7.8 percent) and Sussex (7.1 percent).
Home prices were down 0.1 percent in Monmouth County, to $327,000, and down 0.4 percent in Ocean County, to $232,600. Monmouth bottomed out in February 2012, but the average price today is still lower than it was in October 2003, and it is down 24.6 percent from its peak of $435,000 in May 2006.
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