Market Data by County

Data From: 01/13/25 - 02/09/25

NJ County	New Listings	Median Sale Price	Days On Market/YoY
BERGEN	129 (-2%)	$733k (14%)	84 / 4
ESSEX	117 (-9%)	$606k (7%)	45 / -3
PASSAIC	47 (-20%)	$612k (22%)	47 / 5
MORRIS	74 (-8%)	$678k (13%)	28 / -1
HUDSON	104 (-6%)	$653k (1%)	60 / 6

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

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Inflation is Up Again -

What That Means For Interest Rates

Inflation has been rising for four straight months, and last month was no exception. The latest Consumer Price Index (CPI) report showed an overall increase of 0.5% for all items, bringing the rate to 3% from 2.9%, in December.

Many have been wondering if the Federal Reserve will cut interest rates soon, but with inflation rising yet again, the Federal Reserve have said they “don’t see any reason to be in a hurry” to cut rates. The next realistic rate cut might not come until September.

Breaking Down the CPI Report

Some everyday cost changes from the most recent CPI report: (source US BLS.gov)

Food: Up 0.4% month-over-month
Eggs: Up 15.2% (a 53% increase over the last 12 months!)
Used vehicles: Up 2.2%
Gasoline: Up 1.8%
Insurance: Up 2%
Energy: Up 1.1%

See the chart and Read more...

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.	1,552,358 (12.2%)	$418,489 (6.1%)
New Jersey	21,494 (2.7%)	$538,400 (9.0%)

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.

Northern NJ Homes For Sale by County

Bergen County	Essex County	Passaic County
Morris County	Hudson County	Union County

Foreign Buyers Sour On US Real Estate-Sales To Non-US Buyers Plummet By 36% In Just One Year

US property purchases by foreign buyers fell 36% between April 2023 and March 2024 to a 15-year low, according to the National Association of Realtors. Benzinga looks at some of the factors that may have contributed to such a dramatic decline. It's not hard to imagine that the comparative strength of the US dollar scared a few buyers off.

Valentine's Day Events This Weekend

Sweet Things to Do for Valentine's Day in New Jersey - NJ Family

Things to do for Valentine's Day in NJ. Valentine's Day doesn't have to be all about date night, it can also be fun for the whole family.

Your Real Estate Concierge | Buy & Sell Homes In NJ | Joseph D Charles - Prominent Properties Sotheby's International Realty

Looking to buy, sell or invest in a home or property in Northern NJ? I provide concierge-style real estate service, offering expert guidance, data-driven insights, and worry free experience. Isn't that what you would expect from a real estate agent?