NORTH CENTRAL NEW JERSEY RESIDENTIAL MARKET REPORT
MONTH OF APRIL Essex*, Hunterdon, Morris, Somerset & Union* Counties
APRIL SALES
RESIDENTIAL PROPERTIES YEAR OVER YEAR
Homes Sold
Homes for Sale
Median Sold Price (000's)
3,000
$800
$600 2,000
$400
+ 8.6% Prices
1,000
Median Sales Price
$200
– 8.2%
0
Sales
2021
2022
2023
2024
$0
2025
Closed Sales
APRIL CONTRACTS
+ 11%
Inventory
New Listing
New Contracts Pended
2022
2023
4,000
Average Inventory
3,000
– 3.9%
New Listings
– 5%
Purchase Contracts
2,000
1,000
0
2021
This report is inclusive of results from select municipalities in Essex and Union counties as follows: Essex County: Essex Fells Twp, Livingston Twp, Maplewood Twp, Millburn Twp, Montclair Twp, South Orange Village, West Orange Twp Union County: Berkeley Heights Twp, Mountainside Boro, New Providence Boro, Scotch Plains Twp, Summit City, Westfield Twp Copyright Turpin Realtors 2025. This data provided by Garden State Multiple Listing Service and Trendgraphix is deemed reliable but not guaranteed.
2024
2025
NORTH CENTRAL NEW JERSEY RESIDENTIAL MARKET REPORT
YEAR TO DATE APRIL 30 - ACTIVITY BY PRICE Essex*, Hunterdon, Morris, Somerset & Union* Counties
HOME SALES BY PRICE 2024 2366
2500
2025
2302
Homes Sold
2000
1500
1000
459
500
528 60
112
32
25
0 Under $1M$1M Under
UNDER $1 MILLION
$2-2.99M $2-2.99M
$3M+ $3M+
$1,000,000 - $1,999,999 MILLION
YTD 2025
YTD 2024
% Change
Homes for Sale*
1031
914
13%
New Listings
3763
3758
Contracts Pended
2884
Homes Sold Days on Market
$1-1.99M $1-1.99M
YTD 2025
YTD 2024
% Change
Homes for Sale*
321
281
14%
0%
New Listings
1011
920
10%
3000
-4%
Contracts Pended
683
638
7%
2302
2366
-3%
Homes Sold
528
459
15%
33
31
6%
Days on Market
34
35
-3%
YTD 2025
YTD 2024
% Change
$2,000,000 - $2,999,999 MILLION
$3 MILLION+
YTD 2025
YTD 2024
% Change
Homes for Sale*
105
94
12%
Homes for Sale*
72
88
-18%
New Listings
212
157
35%
New Listings
91
98
-7%
Contracts Pended
115
72
60%
Contracts Pended
38
36
6%
Homes Sold
112
60
87%
Homes Sold
32
25
28%
Days on Market
50
37
35%
Days on Market
48
66
-27%
* Homes for sale is not cumulative; rather it is the number homes listed as “Active” by the MLS on the last day of subject month. This report is inclusive of results from select municipalities in Essex and Union counties as follows: Essex County: Essex Fells Twp, Livingston Twp, Maplewood Twp, Millburn Twp, Montclair Twp, South Orange Village, West Orange Twp Union County: Berkeley Heights Twp, Mountainside Boro, New Providence Boro, Scotch Plains Twp, Summit City, Westfield Twp
© 2025 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 5/13/25 & Trendgraphix
LOWEST RATES. GUARANTEED IN WRITING. AS OF 5-16-2025
INTEREST RATE
APR
CONVENTIONAL 30-YEAR FIXED*
6.5%
6.595%
JUMBO 30-YEAR FIXED**
6.625%
6.728%
FIRST-TIME HOMEBUYER 30-YEAR FIXED***
6.375%
6.468%
LEARN MORE Hilltop Mortgage Group LLC NMLS # 2522152. Programs, rates and conditions are subject to change without notice. Rates can be lower depending on your exact scenario. Call for current pricing for your exact scenario. ARM Loans - APR may increase after closing. Rates may vary depending on each individual credit history and underwriting factors and may contain points. All rates are 35 day lock periods (longer terms available). Rate quotes based on scenarios below: * Based upon 75 LTV, Single Family Primary Home. Loan amounts greater than $350,000. FICO score 760 and above. Purchase Transactions (refinances may have different rates) - NJ-PA-FL-CTMA. ** Based upon 75 LTV, Single Family Primary Home. FICO score 760 and above. Purchases High Balance loans are not available in every county. ***Based upon 96.5 LTV, Single Family Primary Home. Loan amounts greater than $200,000. FICO score 680 and above. Turpin Real Estate has a business relationship with Hilltop Mortgage Group, including an indirect owner in common. Turpin Real Estate may receive a financial or other benefit from Hilltop Mortgage Group business. Hilltop Mortgage, LLC | 8 E Main Street, Suite 2, Mendham, NJ 07945 Matt Chemis, Loan Advisor | NMLS# 2316591 | mchemis@hilltopmtg.com | Phone: 862-259-3250