Market Data by County

Data From: 12/30/24 - 01/26/25

NJ County	New Listings	Median Sale Price	Days On Market/YoY
BERGEN	108 (-6%)	$753k (18%)	79 / 0
ESSEX	91 (-21%)	$641k (9%)	39 / -4
PASSAIC	47 (-10%)	$610k (20%)	35 / -4
MORRIS	59 (0%)	$629k (4%)	26 / -3
HUDSON	96 (-1%)	$657k (0%)	47 / -1

*ABOVE IS THE MOST RECENT Year-Over-Year DATA FROM REDFIN

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2024 Q4 Market Data & County Stats are Back!

After a three-week hiatus, I’m confident in sharing the latest Northern NJ county data. I held off because I didn’t want to provide you with information I didn’t think was accurate.

The data hasn’t changed much from what we’ve seen in 2024—inventory remains low, and prices continue to rise. Moreover, listings are so scarce that there are fewer than five available at any given time in a town, including condos, townhomes, and single-family homes!

Notable From County Stats:

Essex County has 21% less inventory compared to this time last year.
Passaic County has surpassed a $600,000 median sale price, which is remarkably high.

Given these conditions, it's like a Spring market without the inventory.

2024 Q4 Market Data:

Essex County Q4 2024 Market Report

Bergen County Q4 2024 Market Report

Passaic, Morris & Sussex Q4 2024 Market Report

If you have any questions about the market in your area, feel free to reply to this email or call me.

Comparing the U.S. Market to New Jersey

U.S. vs New Jersey	# of Homes For Sale	Median Sale Price
U.S.	1,542,277 (12.7%)	$427,430 (5.4%)
New Jersey	22,031 (6.0%)	$533,600 (10.0%)

Today's Mortgage Rates : Daily Index

View today's current mortgage rates with our national average index, calculated daily to bring you the most accurate data when purchasing or refinancing your home. Follow our daily market analysis with Mortgage Rate Watch and we'll tell you where and why rates are moving.

All Northern NJ Homes For Sale!

Bergen County	Essex County	Passaic County
Morris County	Hudson County	Search All

Fed leaves rates unchanged, sees no hurry to cut again

The decision and Powell's comments put Fed policy in a holding pattern.

"I mentioned in December that the odds against the Feds cutting rates again was really low. It seems they won't be cutting any time soon, and I think that's good honestly. Every time they cut rates went over 7%!" -Joe