Bergen County
Single Family Homes for January
Key Metrics 2024 2025 Change
New Listings 452 443 – 2.0%
Closed Sales 307 363 + 18.2%
DOM* 37 42 + 13.5%
Median PX $688K $820K + 19.2%
% of PX 102.8% 102.4% – 0.4%
Inventory 1,005 710 – 29.4%
Months Supply 2.3 1.6 – 30.4%
*Days on Market
Passaic County
Single Family Homes for January
Key Metrics 2024 2025 Change
New Listings 158 168 + 6.3%
Closed Sales 138 119 – 13.8%
DOM* 40 42 + 5.0%
Median PX $517K $583K + 12.7%
% PX Rec’d 104.5% 103.4% – 1.1%
Inventory 404 281 – 30.4%
Month Supply 2.4 1.6 – 33.3%
*Days on Market
The housing market trends in Morris and Middlesex counties show some similarities and differences when compared to Bergen and Passaic counties:
Bergen County
– Median Price: Increased significantly by 19.2% (from $688K to $820K).
– Closed Sales: Rose by 18.2%.
– Inventory: Dropped sharply by 29.4%.
– Months Supply: Decreased by 30.4%.
Passaic County
– Median Price: Increased by 12.7% (from $517K to $583K).
– Closed Sales: Declined by 13.8%.
– Inventory: Fell by 30.4%.
– Months Supply: Decreased by 33.3%.
Comparison
– Price Growth: Bergen County experienced the highest price growth, followed by Middlesex, Passaic, and Morris counties.
– Closed Sales: Middlesex and Bergen counties saw increases, while Passaic experienced a decline.
– Inventory and Supply: All counties are facing declining inventory and months of supply, indicating tight market conditions across the region.
Overall, the region is characterized by rising prices and shrinking inventory, but the pace of sales and price growth varies. If you’d like, I can help analyze these trends further or explore specific counties in more detail!