North Central New Jersey Market Report | Regional Results | August 2022

NORTH CENTRAL NEW JERSEY

MARKET REPORT R E G I O N A L R E S U LT S | A U G U S T 2 0 2 2

REGIONAL RESULTS | AUGUST 2022 ESSEX*, HUNTERDON, MORRIS, SOMERSET & UNION* COUNTIES Residential Properties - All Prices PENDED SALES (UNITS) - MONTH OF AUGUST Last 5 Years 2022

1,481

2021

1,618

2,042

2020

2019

1,505

2018

1,378

0

500

1000

1500

2000

2500

MEDIAN LIST PRICE, HOMES PENDED - MONTH OF AUGUST Last 5 Years 2022

$608,100

2021

$571,100

$578,100

2020

2019

$505,000

2018

$502,600

0

200000

400000

600000

MONTHS SUPPLY, HOMES PENDED - MONTH OF AUGUST Last 5 Years Months 2022

1.40

2021

1.60

1.90

2020

3.90

2019

4.30

2018 0

© 2022 Turpin Realtors

1

2

3

Subject to Errors and Omissions

4

5

Source: GSMLS 9/9/22 & Trendgraphix

REGIONAL RESULTS | AUGUST 2022 ESSEX*, HUNTERDON, MORRIS, SOMERSET & UNION* COUNTIES Residential Properties - Activity by Price

ALL PRICES August 2022 August 2021

% Change

Homes For Sale

2065

2577

-20%

New Listing

1360

1883

-28%

Contracts Pended

1481

1618

-8%

Homes Sold

1699

2077

-18%

25

26

-4%

Days on Market

UNDER $1 MILLION August 2022 August 2021

$1,000,000 - $1,999,999 MILLION % Change

August 2022 August 2021

% Change

Homes For Sale

1572

2096

-25%

Homes For Sale

354

337

5%

New Listing

1183

1725

-31%

New Listing

145

136

7%

Contracts Pended

1324

1470

-2%

Contracts Pended

126

132

-5%

Homes Sold

1440

1813

-21%

Homes Sold

209

229

-9%

25

25

NC

24

27

-11%

Days on Market

Days on Market

$2,000,000 - $2,999,999 MILLION August 2022 August 2021

$3 MILLION+

% Change

August 2022 August 2021

Homes For Sale

80

84

-5%

Homes For Sale

New Listing

25

13

92%

Contracts Pended

23

8

188%

Homes Sold

37

28

32%

Days on Market

27

53

-49%

% Change

59

60

-2%

New Listing

7

9

-22%

Contracts Pended

8

8

NC

Homes Sold

13

7

86%

Days on Market

23

64

-64%

*This report is inclusive of results from select municipalities in Essex and Union counties as follows: Essex County: Berkeley Heights Twp, Mountainside Boro, New Providence Boro, Scotch Plains Twp Union County: Essex Fells Twp, Livingston Twp, Maplewood Twp, Millburn Twp, Montclair Twp, South Orange Village Twp, Summit City, West Orange, Westfield Twp

© 2022 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 9/9/22 & Trendgraphix

About the Data This study includes all residential home sales in the regions noted, as reported by Garden State Multiple Service LLC (GSMLS) and

Trendgraphix, including condominiums and townhomes. It does not include land sales, commercial sales, or rentals.

Cover page image: 30 Peachcroft Drive, Bernardsville | MLS: 3806813

www.TurpinRealtors.com © 2022 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS 9/9/22 & Trendgraphix