North Central New Jersey Market Report - May 2021 I Turpin Realtors

NORTH CENTRAL NEW JERSEY

MARKET REPORT M AY 2 0 2 1

SOMERSET COUNTY

MAY 2021 | RESIDENTIAL PROPERTIES - ALL PRICES

YEAR OVER YEAR ACTIVITY - ALL PRICES March 2020 - May 2021

Homes for Sale

New Listings

Homes Sold

Contracts Pended

Change from Last Year

200%

100%

0%

y Ma

Ap r.

r.

Ma

.

Fe b

n.

Ja

c.

De

v.

No

Oc t.

.

Se p

.

Au g

l.

Ju

n.

Ju

y Ma

Ap r.

Ma

r.

-100%

MEDIAN SOLD PRICE - ALL PRICES Past 3 Years

$800,000

Median Sold Price

$600,000

$400,000

$200,000

9/1 8 11 /18 1/1 9 3/1 9 5/1 9 7/1 9 9/1 9 11 /19 1/2 0 3/2 0 5/2 0 7/2 0 9/2 0 11 /20 1/2 1 3/2 1 5/2 1

8 7/1

5/1

8

$0

© 2021 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS and TrendGraphix as of 6/17/21

SOMERSET COUNTY

MAY 2021 | RESIDENTIAL PROPERTIES - ACTIVITY BY PRICE

ALL PRICES May 2021

May 2020

Homes For Sale

606 1022 -41%

New Listing

610 497 23%

Contracts Pended

496 325 53%

Homes Sold

394 255 55%

Days on Market

30

59

UNDER $1 MILLION May 2021

% Change

May 2020

-49%

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

May 2021

May 2020

% Change

Homes for Sale

477 872 -45%

Homes for Sale

94

121

-22%

New Listing

545 455 20%

New Listing

56

37

51%

Contracts Pended

449 305 47%

Contracts Pended

44

18

144%

Homes Sold

351 244 44%

Homes Sold

38

11

246%

Days on Market

50

158

-68%

May 2020

% Change

16

10

60%

Days on Market

26

54

-52%

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

$3 MILLION+

May 2021

May 2020

% Change

19

19

NC

For Sale

New Listing

5

5

NC

New Listing

4

0

∞

Contracts Pended

2

2

NC

Contracts Pended

1

0

∞

Homes Sold

3

0

∞

Homes Sold

2

0

∞

Days on Market

66

NA

NA

For Sale

May 2021

Days on Market

336 NA NA

© 2021 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS and TrendGraphix as of 6/17/21

MORRIS COUNTY

MAY 2021 | RESIDENTIAL PROPERTIES - ALL PRICES

YEAR OVER YEAR ACTIVITY - ALL PRICES March 2020 - May 2021

Homes for Sale

New Listings

Homes Sold

Contracts Pended

Change from Last Year

200%

100%

0%

y Ma

Ap r.

r.

Ma

.

Fe b

n.

Ja

c.

De

v.

No

Oc t.

.

.

Se p

Au g

l.

Ju

n.

Ju

y Ma

Ap r.

Ma

r.

-100%

MEDIAN SOLD PRICE - ALL PRICES Past 3 Years

$800,000

Median Sold Price

$600,000

$400,000

$200,000

9/1 8 11 /18 1/1 9 3/1 9 5/1 9 7/1 9 9/1 9 11 /19 1/2 0 3/2 0 5/2 0 7/2 0 9/2 0 11 /20 1/2 1 3/2 1 5/2 1

8 7/1

5/1

8

$0

© 2021 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS and TrendGraphix as of 6/17/21

MORRIS COUNTY

MAY 2021 | RESIDENTIAL PROPERTIES - ACTIVITY BY PRICE

ALL PRICES May 2021

May 2020

% Change

Homes For Sale

985

1676

-41%

New Listing

934

850

10%

Contracts Pended

753

519

45%

Homes Sold

565

371

52%

30

52

-42%

Days on Market

UNDER $1 MILLION May 2021

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

May 2020

% Change

May 2021

May 2020

% Change

Homes for Sale

784

1417

-45%

New Listing

813

756

8%

Contracts Pended

689

478

44%

Contracts Pended

57

35

63%

Homes Sold

506

355

43%

Homes Sold

53

14

279%

28

51

-45%

Days on Market

48

77

-38%

May 2021

May 2020

% Change

17

13

31%

New Listing

3

2

50%

Days on Market

Homes for Sale

149 211 -29%

New Listing

110 86 28%

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

$3 MILLION+

May 2021

May 2020

% Change

35

35

0%

New Listing

8

6

33%

Contracts Pended

5

6

-17%

Contracts Pended

2

0

∞

Homes Sold

4

2

100%

Homes Sold

2

0

∞

For Sale

Days on Market

44

35 26%

For Sale

Days on Market

134 NA NA

© 2021 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS and TrendGraphix as of 6/17/21

HUNTERDON COUNTY

MAY 2021 | RESIDENTIAL PROPERTIES - ALL PRICES

YEAR OVER YEAR ACTIVITY - ALL PRICES March 2020 - May 2021

Homes for Sale

New Listings

Homes Sold

Contracts Pended

150%

Change from Last Year

100%

50%

0%

-50%

y Ma

Ap r.

r.

Ma

.

Fe b

n.

Ja

c.

De

v.

No

Oc t.

.

.

Se p

Au g

l.

Ju

n.

Ju

y Ma

Ap r.

Ma

r.

-100%

MEDIAN SOLD PRICE - ALL PRICES Past 3 Years

$800,000

Median Sold Price

$600,000

$400,000

$200,000

9/1 8 11 /18 1/1 9 3/1 9 5/1 9 7/1 9 9/1 9 11 /19 1/2 0 3/2 0 5/2 0 7/2 0 9/2 0 11 /20 1/2 1 3/2 1 5/2 1

8 7/1

5/1

8

$0

© 2021 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS and TrendGraphix as of 6/17/21

HUNTERDON COUNTY

MAY 2021 | RESIDENTIAL PROPERTIES - ACTIVITY BY PRICE

ALL PRICES May 2021

% Change

Homes For Sale

312 626 -50%

New Listing

274 235 17%

Contracts Pended

259 147 76%

Homes Sold

170 128 33%

Days on Market

40

UNDER $1 MILLION May 2021

May 2020

May 2020

65

-38%

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

May 2021

May 2020

% Change

Homes for Sale

257 572 -55%

Homes for Sale

38

38

NC

New Listing

256 224 14%

New Listing

16

10

60%

Contracts Pended

253 144 76%

Contracts Pended

6

3

100%

Homes Sold

166 127 31%

Homes Sold

4

1

300%

Days on Market

37

64

-42%

Days on Market

$2,000,000 - $2,999,999 MILLION May 2021

$3 MILLION+

May 2020

% Change

For Sale

8

12

-33%

New Listing

1

1

Contracts Pended

0

Homes Sold Days on Market

130 270 -52%

May 2021

May 2020

% Change

For Sale

9

4

1.25

0%

New Listing

1

0

∞

0

NC

Contracts Pended

0

0

NC

0

0

NC

Homes Sold

0

0

NC

NA

NA

NA

Days on Market

NA NA NA

© 2021 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS and TrendGraphix as of 6/17/21

ESSEX & UNION COUNTY MUNICIPALITIES* MAY 2021 | RESIDENTIAL PROPERTIES - ALL PRICES

YEAR OVER YEAR ACTIVITY - ALL PRICES March 2020 - May 2021

Homes for Sale

New Listings

Homes Sold

Contracts Pended

300%

Change from Last Year

200%

100%

0%

y Ma

Ap r.

r.

Ma

.

Fe b

n.

Ja

c.

De

v.

No

Oc t.

.

.

Se p

Au g

l.

Ju

n.

Ju

y Ma

Ap r.

Ma

r.

-100%

MEDIAN SOLD PRICE - ALL PRICES Past 3 Years

$800,000

Median Sold Price

$600,000

$400,000

$200,000

9/1 8 11 /18 1/1 9 3/1 9 5/1 9 7/1 9 9/1 9 11 /19 1/2 0 3/2 0 5/2 0 7/2 0 9/2 0 11 /20 1/2 1 3/2 1 5/2 1

8 7/1

5/1

8

$0

* Berkeley Heights Twp, Essex Fells Twp, Livingston Twp, Maplewood Twp, Millburn Twp, Montclair Twp, Mountainside Boro, New Providence Boro, Scotch Plains Twp, South Orange Village Twp, Summit City, West Orange, Westfield Twp

© 2021 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS and TrendGraphix as of 6/17/21

ESSEX & UNION COUNTY MUNICIPALITIES* MAY 2021 | RESIDENTIAL PROPERTIES - ACTIVITY BY PRICE

ALL PRICES May 2021

% Change

Homes For Sale

546 952 -43%

New Listing

599 627 -5%

Contracts Pended

502 367 37%

Homes Sold

387 255 52%

Days on Market

27

UNDER $1 MILLION May 2021

May 2020

May 2020

41

-34%

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

May 2021

May 2020

% Change

Homes for Sale

357 657 -46%

Homes for Sale

128 224 -43%

New Listing

450 457 -2%

New Listing

117 132 -11%

Contracts Pended

381 287 33%

Contracts Pended

100 66 52%

Homes Sold

265 213 24%

Homes Sold

110

Days on Market

27

42

-36%

Days on Market

$2,000,000 - $2,999,999 MILLION May 2021

May 2020

% Change

26

39 182% 29

-10%

May 2020

% Change

$3 MILLION+ May 2021

For Sale

35

57

-39%

For Sale

26

14

86%

New Listing

21

30

-30%

New Listing

11

8

38%

Contracts Pended

18

12

50%

Contracts Pended

3

2

50%

Homes Sold

11

3

267%

Homes Sold

1

0

∞

Days on Market

42

75

-44%

Days on Market

29

0

∞

© 2021 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS and TrendGraphix as of 6/17/21

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. The relatively

small data set in some categories can lead to

wild swings that do not necessarily point to a trend in one direction or another.

www.TurpinRealtors.com © 2021 Turpin Realtors • Subject to Errors and Omissions • Source: GSMLS and TrendGraphix as of 6/17/21