Press Release: New Jersey Association of Realtors Reports 12% Year-Over-Year Surge in Home Prices

DELRAN, NJ – As New Jersey continues to grapple with one of the nation’s most expensive and competitive housing markets, a growing number of property owners are seeking alternatives to traditional real estate transactions. Phil Buys Houses Fast has emerged as a trusted solution, offering homeowners across the Garden State a fast and stress-free way to sell their properties for cash.

Recent data from the New Jersey Association of Realtors highlights just how unaffordable the market has become: the median sale price for a single-family home in New Jersey has reached $530,000, an increase of over 35% since 2020 and 6.2% increase in twelve months. The number of homes for sale has dropped by 10.6% and there is now less than three months supply on the market. Combined with rising property taxes, record-low inventory, and extended time-to-close with traditional buyers, many homeowners are feeling trapped.

“I founded my company to give homeowners a reliable option when they need to sell quickly — whether due to foreclosure, relocation, divorce, or just wanting to avoid the hassle of agents and repairs,” said Phil Vaughan, owner of Phil Buys Houses Fast. “We buy homes as-is and can close in as little as 7 days. Most of our clients in New Jersey tell us they are too busy for showings and don’t wait months to find a buyer. They know prices are up and they can get a good price no matter which route they choose. Convenience is a major factor.”

A recent feature from NJ101.5 calls the state’s housing crisis “the price of paradise,” citing affordability as a growing concern among both homeowners and renters. This has led to increased interest in non-traditional selling options like those provided by Vaughan’s company.

With prices so high, many sellers are skipping the hassle and cashing out without going through the process of working with an agent to sell on the MLS (multiple listing service). Unlike listing on the MLS, working directly with a cash home buyer means the seller doesn’t need to clean, stage, or wait for financing to go through.

Phil Buys Houses Fast works with homes in any condition and in any situation — from inherited properties and probate to landlords tired of dealing with tenants. “If you want to buy a home off-market or need to sell one with challenges, we make the process easy and fair,” Vaughan added.

As New Jersey continues to top the list for property tax burdens and housing shortages, services like Phil Buys Houses Fast are filling an essential gap — giving homeowners flexibility, speed, and control.

About Phil Buys Houses Fast:

Based in New Jersey, Phil Buys Houses Fast helps local property owners sell their homes quickly for cash. With no commissions, repairs, or delays, the company has built a reputation for transparency and integrity across the state.