Essex County New Jersey Single Family Residences Housing Market Trends For January 2024

1. 🏡📊 Market Update for Essex County, NJ 📊🏡

As a REALTOR® with NEXTHOME NEW BEGINNINGS, I'm excited to share the latest market trends with you! In January 2024, the median sold price in Essex County is $588,750, with a list to sold price percentage of 103%. Homes are selling quickly, with a median of 26 days on the market. Buyers and sellers, now is the time to make your move! #EssexCountyRealEstate #MarketUpdate

2. 📈🏠 Attention Buyers and Sellers in Essex County, NJ! 🏠📈

Did you know that there is currently only a 1.34 months supply of inventory in Essex County? That's a -16.25% decrease over the last 12 months! With homes selling at a median price of $588,750 and a list to sold price percentage of 103%, the market is hot! Contact me, Patrick Rumore, your local REALTOR®, to navigate these market trends and make the most of your real estate goals. #EssexCountyRealEstate #MarketTrends

3. 🌟🏡 Essex County Market Update 🌟🏡

Buyers and sellers, are you ready for the latest market trends in Essex County, NJ? The median sold price is $588,750, with homes selling at 103% of the list price. With a median of only 26 days on the market, now is the time to make your move! As your trusted REALTOR® with NEXTHOME NEW BEGINNINGS, I'm here to help you navigate the market and achieve your real estate goals. Let's chat! #EssexCountyRealEstate #MarketUpdate2024

Reach out to me, Patrick Rumore, REALTOR® at 973-666-0365, for expert guidance in navigating this competitive market. #EssexCountyRealEstate #MarketTrends

Hey there, Buyers and Sellers! Let's dive into the exciting world of real estate metrics and explore the correlation between these key indicators.

First up, we have the Months Supply of Inventory, which is currently at a low 1.34. This means that there is a limited supply of homes on the market compared to the demand from buyers. With such low inventory, sellers may have the upper hand in negotiations.

Next, we have the 12-Month Change in Months of Inventory, which has decreased by a significant 16.25%. This shows a trend of decreasing inventory over the past year, indicating a competitive market where homes are selling quickly.

The Median Days Homes are On the Market is a mere 26 days, further highlighting the fast-paced nature of the current real estate market. Homes are being snapped up quickly, so buyers need to act fast.

The List to Sold Price Percentage is at a healthy 103%, meaning that homes are generally selling for slightly above their listing price. This could indicate strong buyer competition and a seller's market.

Finally, the Median Sold Price is $588,750, showcasing the overall value of homes in the market. This figure gives both buyers and sellers an idea of the average price they can expect when buying or selling a home.

Overall, these metrics paint a picture of a dynamic and competitive real estate market, where homes are selling quickly and often above asking price. Buyers should be prepared to act fast, while sellers may find themselves in a favorable position. Keep an eye on these key indicators to stay informed and make smart decisions in the real estate market. Happy buying and selling!

If you are thinking of buying, selling, renting, or investing in real estate, Think of Patrick!