Market Data by County

Data From: 04/07/25 - 05/04/25

NJ County	New Listings	Median Sale Price	Days On Market/YoY
BERGEN	197 (-10%)	$764k (15%)	67 / -1
ESSEX	157 (-3%)	$698k (12%)	33 / +4
PASSAIC	81 (-7%)	$595k (8%)	28 / -5
MORRIS	127 (-11%)	$705k (13%)	17 / +1
HUDSON	154 (-1%)	$694k (4%)	34 / -1

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

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Northern NJ Market Review

Inventory Still Dropping Below 2024

Home inventory continues to move further away from where we were this time last year. I'm actually a little shocked by these numbers, as we saw inventory surpass 2024's numbers. Now, as you see above, each county has less than this time last year. I added another chart below for a visual.

Mortgage Interest Rate

Mortgage rates continue to be near the 7% market, as reported today by companies like Lending tree, NerdWallet, and Money.com. Of course, the actual rate a buyer would get depends heavily on credit score, debt to income ratio, and loan type (FHA, conventional, etc.). It's also a good idea to work with a trusted mortgage broker. They work with multiple lenders in order to find you the best rates.

Overview

There is no housing market crash expected by the experts, as we saw in 2008. Mainly because their are much stricter rules and regulations to getting a loan today. What we are seeing for 2025 is continued price growth at around 2-4% and a continued need of homes for sale.

Questions on any real estate topic, reply to this email to reach out to me directly 973-715-8766

This chart shows the latest inventory chart for Essex County, as an example.

Notice how 2025 (blue) has dipped below 2024 (orange).

Also, for a wider view, notice inventory in 2022 was about 12%-20% higher than now.

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.	1,827,939 (16.0%)	$430,787 (2.4%)
New Jersey	22,117 (-0.47%)	$520,700 (9.2%)

Note: When the news reports on the real estate market, they’re referring to national data. New Jersey is very different from the rest of the country.

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

Housing Market Perceptions Dampen Homebuying Intentions

Just 26% of Americans think it is a good time to buy a house, and a new low of 30% of non-homeowners think they will buy a home in the next five years.

What To Do This Weekend in NJ

Things to Do in New Jersey in May - 2025

Birds are chirping, summer is on the horizon and the great Garden State is filled with exciting things for the whole family to do. From award-winning wines to jazzy showtimes. Blissful beaches to bronco riding and bird-watching locations that are among the top in the nation.