Northern NJ Market News

Joseph Charles | NJ Realtor

 
JUST LISTED HOMES
JUST LISTED CONDOS
JUST REDUCED

Market Data by County

Data From 09/30/24 - 10/27/24

NJ

County

New

Listings

Median

Sale Price

Days On Market/YoY

BERGEN

170 (5%)

$702k (9%)

70 / -3

ESSEX

116 (-4%)

$594k (8%)

35 / -9

PASSAIC

77 (-6%)

$558k (9%)

31 / -6

MORRIS

108 (11%)

$620k (3%)

22 / 3

HUDSON

118 (12%)

$689k (6%)

39 / -4

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

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Will the Market be a Trick or a Treat?

With less than one week until the elections, mortgage interest rates have climbed back over 7%, causing buyers to hesitate in this very uncertain market. By next week, once a candidate is chosen, we should see an instant reaction, and by December, we’ll likely have a clearer picture of what next year may actually look like.


Right now, Realtors I know—and myself included—are seeing a vastly different market than we did this summer, especially compared to the period before the Fed announced their rate hikes. I'm looking forward to seeing how the market unfolds next week, and I'll be sure to share those insights with you here.


Have a Happy Halloween !


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

Comparing the U.S. Market to New Jersey

U.S. vs New Jersey

# of Homes For Sale

Median Sale Price

U.S.

+15.1%

+3.8%

New Jersey

+8.3%

+9.3%

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.

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All Northern NJ Homes For Sale!

Housing Market Stays Surprisingly Active As Election Looms and Mortgage Rates Hit 7%

Even with the impending presidential election and mortgage rates surpassing 7% for the first time since July, pending home sales posted their second-biggest increase in three years. But Redfin agents report some would-be homebuyers are pressing pause on starting their house hunt until the election passes.

Read More

Fall Activities to Do in New Jersey

Best Neighborhoods to Trick or Treat on Halloween in New Jersey

We've got the scoop on the best places to trick or treat throughout New Jersey, from spooky neighborhoods to town-wide Halloween events.

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Actively Licensed in the State of NJ:

New Jersey Real Estate Commission (NJREC)

North Central Jersey Association of Realtors (NCJAR)

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28 Valley Rd Suite 1, Montclair, NJ 07046

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