Market Data by County

Data From 05/06/24 - 06/02/24

NJ County	New Listings	Median Sale Price	Days On Market
BERGEN	213 (-1%)	$723k (11%)	67 / -5
ESSEX	148 (-1%)	$646k (11%)	29 / 5
PASSAIC	89 (2%)	$541k (11%)	33 / -3
MORRIS	129 (2%)	$718k (19%)	14 / -2
HUDSON	143 (14%)	$674k (6%)	33 / -7

*ABOVE IS THE MOST RECENT YTD DATA FROM REDFIN

SECOND COUNTY BREAKS $700,000!

I was convinced Hudson County would be the next county to break $700,000, but the data shows otherwise! Morris County was at $688,000 MSP last week and is now at $718,000, which is a $30,000 difference!

For whatever reason, Hudson took a drop, as it was just a few thousand away from breaking $700,000, but that county is always quirky. Meanwhile, Essex and Passaic County's are continuing to reach new heights.

This is 2008 but much better because the housing market is healthier as far as equity in ownership and low mortgage delinquency. There were also 2.3 million homes in foreclosure in 2008 and less than 100,000 as of April 2024.

It is reasonable to say that we will ever see a market like this again in our lifetime.

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Comparing the U.S. Market to New Jersey

U.S. vs New Jersey	Homes For Sale	Median Sale Price
U.S.	+13.7%	+6.0%
New Jersey	-1.6%	+12.2%

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