Market Data by County

Data From: 06/23/25 - 07/20/25

NJ County	New Listings	Median Sale Price	*DOM (YoY)
BERGEN	192 (4%)	$807k (10%)	70 / 1
ESSEX	126 (-9%)	$728k (5%)	49 / 25
PASSAIC	89 (18%)	$568k (7%)	53 / 25
MORRIS	104 (-13%)	$735k (5%)	18 / 2
HUDSON	131 (1%)	$731k (3%)	49 / 18

ABOVE IS THE MOST RECENT Year-Over-Year DATA FROM REDFIN | *DOM = Days on Market

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Home Prices, Inventory and Days on Market

One thing has remained consistent in Northern NJ; home prices are still rising by at least single digit numbers. We aren't seeing the big jumps we saw over the past few years, in general, but they’re continuing to climb and some towns are benefiting more than others.

Inventory has been all over the place, with the exception of Passaic County, which has now outpaced 2024’s new listing numbers by double digits for several weeks straight.

The newest shift in the data is how long homes are taking to sell. In Essex, Passaic, and Hudson counties, properties have been sitting on the market 18 days or more on average since around May 26, 2025. That’s a noticeable slowdown! Bergen has always been above the others, and right now it's at 70 days, which I believe is mostly due to homes typically being over priced.

Only in Morris County are homes still selling quickly, likely because listings tend to be priced more in line with the market and because it has the lowest available inventory.

Looking for more detailed information in your town? Reply to this email and I'll get you the data.

Notable Market Update: 07/24/2025

Inventory Has Dropped Again!

The U.S. dropped below 2 Million Homes For Sale

A Loss of more than 50% gains since 2 weeks ago.

New Jersey dropped below 30,000 Homes For Sale

A loss of nearly 2,000 homes available since 2 weeks ago.

Inventory is supposed to be going up!

It's still a seller's market in NJ but, buyers are gaining ground.

Comparing the U.S. Market to NJ

(year-over-year)

U.S. vs NJ	# of Homes For Sale	Median Sale Price
U.S.	1,970,285 (7.8%)	$447,054 (1.0%)
New Jersey	28,511 (1.3%)	$581,900 (6.0%)

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

US existing home sales dip to 9-month low on high costs

Sales of previously-owned homes in the United States hit their lowest rate in nine months, according to industry data released Wednesday, as high home prices and mortgage rates weighed on the market.High mortgage rates were also fueling the gloom in home sales, he said.

The Dream Home That Was Hiding in Plain Sight: The Story Behind 38 Birchwood Terrace, Wayne NJ - New Construction Home

Discover the transformation of 38 Birchwood Terrace in Wayne, NJ-an old, half-destroyed house rebuilt into one of the nicest new construction homes in town. Read how this project came to life, what made the lot so valuable, and why acting early matters in today's real estate market.