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

NORTH CENTRAL NEW JERSEY

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

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

971

2021

1,301

1,508

2020

2019

1,167

2018

1,119

0

500

1000

1500

2000

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

$623,600

2021

$566,000

$543,900

2020

2019

$482,100

2018

$486,400

0

200000

400000

600000

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

1.70

2021

1.30

2.10

2020

4.20

2019

4.80

2018 0

© 2022 Turpin Realtors

1

2

3

Subject to Errors and Omissions

4

5

Source: GSMLS 12/12/22 & Trendgraphix

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

ALL PRICES Nov. 2022

Nov. 2021

% Change

1677

1667

1%

New Listing

948

1167

-19%

Contracts Pended

971

1301

-25%

1085

1468

-26%

35

34

3%

Homes For Sale

Homes Sold Days on Market

UNDER $1 MILLION

$1,000,000 - $1,999,999 MILLION

Nov. 2022

Nov. 2021

% Change

1252

1302

-4%

New Listing

809

1026

Contracts Pended

841

Homes Sold

Homes For Sale

Days on Market

Nov. 2022

Nov. 2021

% Change

Homes For Sale

301

245

23%

-21%

New Listing

114

117

-3%

1169

-28%

Contracts Pended

113

115

-2%

946

1316

-28%

Homes Sold

126

130

-3%

35

33

6%

35

35

0%

Nov. 2022

Nov. 2021

% Change

52

49

6%

Days on Market

$2,000,000 - $2,999,999 MILLION

$3 MILLION+

Nov. 2022

Nov. 2021

% Change

Homes For Sale

72

71

1%

Homes For Sale

New Listing

17

17

0%

New Listing

8

7

14%

Contracts Pended

14

13

8%

Contracts Pended

3

4

-25%

8

16

-50%

Homes Sold

5

6

-17%

36

49

-27%

Days on Market

28

150

-81%

Homes Sold Days on Market

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

© 2022 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 12/12/22 & 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: 159 Lake Rd, Far Hills | MLS: 3820966

www.TurpinRealtors.com © 2022 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS 12/12/22 & Trendgraphix