📢 Essex County, NJ Market Snapshot – Q1 2025: What You Need to Know!

As we step into spring, the real estate market in Essex County, NJ continues to show notable trends that both buyers and sellers should keep an eye on. Here’s a quick breakdown of the latest numbers from January 1, 2025 – March 20, 2025 to help you stay informed.

🏡 Key Market Insights:

• 📈 Average Sales Price: $794K (Up 9% from last year)

• 🏠 Median List Price: $592K (Up 8%)

• 💰 Sales Price/List Price Ratio: 106.7% (No change)

• 🏡 Properties Sold: 575 (Down 3%)

• 📦 Months Supply of Inventory: 1.05 (Up 33%)

What This Means for You:

•For Sellers: Higher prices and strong demand continue to drive the market, meaning it’s still a great time to list your home. With homes selling at 106.7% of the list price, well-priced properties are attracting competitive offers.

•For Buyers: While home prices are rising, the increase in inventory means more options may become available. Acting fast and being prepared with financing will be key to securing the right home.

📩 Get a Personalized Market Snapshot!

Every neighborhood is unique, and market trends can vary depending on your specific location and real estate goals. Whether you’re looking to buy, sell, or invest, The Scott Team NJ is here to provide you with a customized market analysis and expert guidance.

📞 Call/Text: 973.809.1537

📩 Email Us: Click Here to Contact Us

Let’s make your real estate goals a reality this season! 🏡✨