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The median sales prices for single-family homes in Essex, Passaic, and Morris counties have slightly increased. However, Bergen and Hudson counties experienced a decrease, with Bergen dropping by $22,000 and Hudson by $5,000. This isn't unexpected given the significant increases they saw earlier this year.
Inventory has been increasing across all Northern New Jersey counties, with only Bergen County remaining below the 2023 average for newly listed homes.
Hopefully, the trend of more homes being listed for sale continues to surpass 2023 levels. This could help stabilize home sale prices and create a more balanced market.
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