Northern NJ Market News

Joseph Charles | NJ Realtor

 
JUST LISTED HOMES
JUST LISTED CONDOS

Market Data by County

Data From: 02/24/25 - 03/23/25

NJ

County

New

Listings

Median

Sale Price

Days On Market/YoY

BERGEN

173 (-4%)

$742k (11%)

78 / 3

ESSEX

144 (-5%)

$645k (10%)

41 / 2

PASSAIC

76 (-7%)

$546k (9%)

42 / -2

MORRIS

106 (-8%)

$624k (-3%)

24 / 5

HUDSON

150 (17%)

$640k (-6%)

59 / 7

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

Click here for last week's email

New Listing Option For Sellers

As of March 25, 2025, the National Association of Realtors have just introduced a new option for home sellers involving cooperation amongst real estate brokers, without having to have your home publicly listed (ie., Zillow, Realtor.com, Trulia etc)


This update gives sellers more control over how and when their home enters the market, offering greater flexibility and strategic options during the listing process.


Four benefits to sellers I think this will have:


Controlled Exposure

This is ideal for sellers who don’t want to be overwhelmed with public inquiries, or the “curious neighbor.”

Qualified Inquiries Only

By sharing the listing only with buyer’s agents in the MLSs, it is more likely that sellers will be dealing with those who are already qualified to purchase their home.

Time and Flexibility

Sellers, and their listing agent, gain more time to finalize preparations while offering the property exposure simultaneously.

Market Testing

This option can serve as a way to quietly test the market’s response before launching a full public campaign.


Here is the NAR article.

Check out my additional thoughts on this here.


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

Rate Comparisons for a 30-year Fixed

Source

Last Week's Rate (%)

Today's Rate (%)

Difference (%)

Chase

6.72

6.68

-0.04

Navy Federal Credit Union

6.125

6.2

0.075

PNC Bank

6.67

6.63

-0.04

Bankrate

6.84

6.7

-0.14

Freddie Mac

6.65

6.67

0.02

Mortgage Research Center

6.73

6.71

-0.02

Comparing the U.S. Market to New Jersey

(year-over-year)

U.S. vs New Jersey

# of Homes For Sale

Median Sale Price

U.S.

1,644,281 (12.4%)

$425,249 (3.1%)

New Jersey

22,117 (-0.47%)

$520,700 (9.2%)

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.

Read More

Northern NJ Homes For Sale by County

NAR Introduces New Flexibility for Sellers While Retaining Clear Cooperation Policy

New policy statement gives MLSs discretion to set a delay period in which sellers and their agents can keep their properties from being marketed publicly through IDX or syndication.

Read More

What To Do This Weekend in NJ

Six Flags Opens, Egg Hunts, and More Fun Things To Do this Weekend in New Jersey with Kids

Mommy Poppins has you covered with family-friendly activities, events, and things to do in New Jersey this weekend with kids.

Read More

Check Out Other Real Estate & Market Related Articles I Write About Here:

I have a blog I post in weekly on my website that either expands on what I write about here, or I speak on other real estate related topics. Check it out by clicking below.

Read More
Facebook      GMB      Instagram      YouTube

Actively Licensed in the State of NJ:

New Jersey Real Estate Commission (NJREC)

North Central Jersey Association of Realtors (NCJAR)

X Share This Email
LinkedIn Share This Email
How did you like this email?
Positive        Neutral        Negative

© 2025, Prominent Properties Sotheby's International Realty

670 Main Rd, Towaco, NJ 07082

office: 973-335-5700

Facebook  Twitter  Instagram