If you’ve been watching the housing market across Northern New Jersey, you may have noticed that listings have started to pull back again. After several months of rising inventory, the latest data shows a clear shift that’s keeping conditions tight for buyers and steady for sellers.
This past August, it looked like inventory across Northern NJ would match or even surpass 2022 levels. At that point, there were more homes available than in both 2023 and 2024, and the numbers were moving along the same path as 2022 — the last time we saw a meaningful increase in supply.
But that momentum didn’t last. September data shows a sudden drop, bringing us back to a 3-year low last seen in 2023.
Bergen and Essex Counties are both down about 3% from last week, Hudson County is down 5%, and Passaic County, which was up 7% last week, is now even with last year. Morris County saw the biggest shift, down 9% from last week and now sitting 12% below last year.
This pullback in listings has kept home prices across Northern NJ holding steady above last year. Even though homes are taking longer to sell, the limited supply continues to keep prices strong and shows that we’re likely still near the top of the market.
For anyone thinking about selling, this data shows there’s still strong buyer demand across towns like Wayne, Clifton, Montville, and throughout Bergen, Essex, Passaic, and Morris Counties. If you’d like to see what your home could sell for in today’s market, reach out to me directly for more local insights with data you can trust.
Joseph D Charles
Mobile: 973.715.8766 | Email: [email protected]
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