Hudson County
Single Family Homes for October
Key Metrics 2023 2024 Change
New Listings 100 103 + 3.0%
Closed Sales 70 49 – 30.0%
DOM* 41 31 – 24.4%
Median PX $514K $649K + 26.3%
% of PX 100.1% 100.7% + 0.6%
Inventory 260 257 – 1.2%
Months Supply 4.4 4.3 – 2.3%
*Days on Market
Median Price Skyrockets Over 26%
New Listings: The number of new listings increased by 3.0%, indicating a slight uptick in the number of homes entering the market.
Closed Sales: There was a significant decrease in closed sales, down by 30.0%, suggesting that fewer transactions were completed compared to the previous year.
Days on Market (DOM): Homes spent less time on the market, with the average DOM decreasing by 24.4%, which could indicate a faster-moving market.
Median Price (PX): The median sale price saw a substantial increase of 26.3%, rising from $514K to $649K, reflecting higher property values.
Percentage of Price (% of PX): The percentage of the original listing price received by sellers increased slightly by 0.6%, showing that homes are selling closer to their asking prices.
Inventory: The total inventory of homes for sale decreased slightly by 1.2%, indicating a relatively stable supply of homes on the market.
Months Supply: The months supply of inventory, which measures how long it would take to sell all the homes currently on the market, decreased by 2.3%, suggesting a tighter market.
These figures provide a snapshot of the current state of the Hudson County real estate market, highlighting both opportunities and challenges for buyers and sellers.