New Jersey Multiple Listing Service, Inc. - MARKET UPDATE...All Categories*- 2015-2019 *Excludes...
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MARKET UPDATE New Jersey Multiple Listing Service, Inc. MAY 2019
Transcript of New Jersey Multiple Listing Service, Inc. - MARKET UPDATE...All Categories*- 2015-2019 *Excludes...
MARKET UPDATE New Jersey Multiple Listing Service, Inc.
MAY 2019
MAY 2019 MARKET UPDATE
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e |2
Contents MARKET SNAPSHOT ................................................................................................................................................................ 4
New Listings - All Categories ................................................................................................................................................... 6
YTD New Listings by County - All Categories.......................................................................................................................... 7
YTD New Listings by County - Residential .............................................................................................................................. 7
YTD New Listings by County - Single Family ........................................................................................................................... 7
2018 vs. 2019 Active Listings by County ................................................................................................................................. 8
Average List Price by County – All Categories ......................................................................................................................... 9
Average List Price – All Counties ............................................................................................................................................. 9
Average List Price by County - Residential ............................................................................................................................ 10
Average List Price by County – Single Family ........................................................................................................................ 10
New Residential Rental Listings ............................................................................................................................................ 11
YTD New Residential Rental Listings by County .................................................................................................................... 12
Average Residential Rental List Price .................................................................................................................................... 12
Under Contract – All Categories ........................................................................................................................................... 13
YTD Under Contract by County - All Categories ................................................................................................................... 14
YTD Under Contract by County - Residential ....................................................................................................................... 14
YTD Under Contract by County - Single Family .................................................................................................................... 14
Under Contract by Price Range - RES .................................................................................................................................... 15
Under Contract by Price Range – Single Family .................................................................................................................... 16
Absorption Rate (Months Inventory) .................................................................................................................................... 17
Absorption Rate (Months Inventory) .................................................................................................................................... 18
Total Units Sold – All Categories ........................................................................................................................................... 19
YTD Sold by County - All Categories ..................................................................................................................................... 20
YTD Sold by County - Residential ......................................................................................................................................... 20
YTD Sold by County - Single Family ...................................................................................................................................... 20
Total Residential Units Sold .................................................................................................................................................. 21
Units Sold by Price Range - RES ............................................................................................................................................ 22
Total Single Family Units Sold ............................................................................................................................................... 23
Units Sold by Price Range – Single Family ............................................................................................................................. 24
Average Days on the Market by County – All Categories ..................................................................................................... 25
Average Days on the Market – All Counties ......................................................................................................................... 25
Median Sold Price – All Categories ....................................................................................................................................... 26
Median Sold Price by County – All Categories ...................................................................................................................... 27
YTD Median Sold Price – All Categories ................................................................................................................................ 27
Median Sold Price – Residential ............................................................................................................................................ 28
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 3
Contents Median Sold Price – Single Family ........................................................................................................................................ 29
Total Residential Rental - Units Leased................................................................................................................................. 30
YTD Residential Rental Median Leased Price by County ..................................................................................................... 30
Other Market Indicators ....................................................................................................................................................... 31
Monthly Open House Count ............................................................................................................................................. 32
Keybox Showings .............................................................................................................................................................. 32
NJMLS.com Hits ................................................................................................................................................................ 33
MAY 2019 MARKET UPDATE
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e |4
MARKET SNAPSHOT
New Listings
MAY 2019
MAY 2018
Prior Year % Change
APRIL 2019
Prior Month % Change
Page
New Listings Monthly 5,314 5,194 2.3% ↑ 5,227 1.7% ↑ 6
YTD New Listings – All Categories
22,560 20,989 7.5% ↑ n/a 7
YTD New Listings – Residential
15,813 14,844 6.5% ↑ n/a 7
YTD New Listings – Single Family
10,356 9,742 6.3% ↑ n/a 7
Active Listings Monthly - at end of month
12,204 12,166 0.3% ↑ 11,796 3.5% ↑ 8
Average List Price Monthly $626,719 $663,247 -5.5% ↓ $624,644 0.3% ↑ 9
New Rental Listings Monthly 1,288 1,143 12.7% ↑ 1,054 22.2% ↑ 11
Average Rental List Price Monthly
$2,728 $2,648 3.0% ↑ $2,641 3.3% ↑ 12
Under Contracts
MAY 2019
MAY 2018
Prior Year % Change
APRIL 2019
Prior Month % Change
Page
Total Under Contract Monthly
2,666 2,576 3.5% ↑ 2,581 3.3% ↑ 13
YTD Under Contract – All Categories
10,733 10,366 3.5% ↑ n/a 14
YTD Under Contract – Residential
10,489 10,132 3.5% ↑ n/a 14
YTD Under Contract – Single Family
6,914 6,536 5.8% ↑ n/a 14
Absorption Rate (Months Inventory)
MAY 2019
MAY 2018
6Prior Year % Change.4%
APRIL
20199 Prior Month %
Change Page
- All Categories 6.0 5.6 7.1% ↑ 5.7 5.3% ↑ 17
- Residential 4.3 4.1 4.9% ↑ 4.0 7.5% ↑ 17
- Single Family 4.4 4.2 4.8% ↑ 4.0 10.0% ↑ 18
- Condo/Coop/Townhouse 5.0 4.3 16.3% ↑ 4.7 6.4% ↑ 18
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 5
Solds
MAY 2019
MAY 2018
Prior Year % Change
APRIL 2019
Prior Month % Change
Page
Total Sold Monthly 1,897 1,749 8.5% ↑ 1567 21.1% ↑ 19
YTD Solds – All Categories
7,265 7,061 2.9% ↑ n/a 20
Total Sold Monthly - Residential
1,857 1,725 7.7% ↑ 1528 21.5% ↑ 21
YTD Solds – Residential
7,093 6,907 2.7% ↑ n/a 20
Total Sold Monthly - Single Family
1,215 1,097 10.8% ↑ 967 25.6% ↑ 23
YTD Solds -Single Family
4,472 4,216 6.1% ↑ n/a 20
Average Days on the Market
76 65 16.9% ↑ 74 2.7% ↑ 25
Median Sold Price Monthly - All Categories
$420,000 $415,000 1.2% ↑ $405,000 3.7% ↑ 26
Median Sold Price Monthly – Residential
$418,000 $415,000 0.7% ↑ $405,000 3.2% ↑ 28
Median Sold Price Monthly – Single Family
$453,000 $447,000 1.3% ↑ $435,000 4.1% ↑ 29
Leased
MAY 2019
MAY 2018
Prior Year % Change
APRIL 2019
Prior Month % Change
Page
Total Leased 987 919 7.4% ↑ 827 19.3% ↑ 30
YTD Leased Price by County $2,100 $2,000 5.0% ↑ n/a 30
Other Market Indicators
MAY 2019
MAY 2018
Prior Year % Change
APRIL 2019
Prior Month % Change
Page
Open House Counts 5,322 4,355 22.2% ↑ 4,984 6.8% ↑ 32
Keybox Showings 26,546 25,142 5.6% ↑ 25,433 4.4% ↑ 32
NJMLS.com Hits 686,836 700,552 -2.0% 674,060 1.9% ↑ 33
MAY 2019 MARKET UPDATE
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e |6
New Listings - All Categories 2015-2019
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2015 3046 2954 4105 4820 4934 4746 4123 3586 3890 3826 2858 2254
2016 3238 3710 4799 4541 4637 4505 3929 3603 3922 3291 2691 2172
2017 3471 3482 4379 4321 4884 4598 3924 3878 3829 3620 2994 2123
2018 3430 3630 4028 4709 5194 4827 4249 3844 4068 4060 3142 2214
2019 3723 3602 4651 5227 5314
0
1000
2000
3000
4000
5000
MARKET UPDATE MAY 2019
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YTD New Listings by County - All Categories As of May 31st
YTD New Listings by County - Residential
(Single Family, Multi-Family, CCT) - As of May 31st
YTD New Listings by County - Single Family As of May 31st
12883
3095
2065
3186
1331
22560
12351
2575
1819
3076
1168
20989
0 5000 10000 15000 20000 25000
Bergen +4.3%
Essex +20.2%
Hudson +13.5%
Passaic +3.6%
Other +14.0%
Total +7.5%
2018 2019
8102
2679
1225
2666
1141
15813
7915
2270
1089
2592
978
14844
0 2000 4000 6000 8000 10000 12000 14000 16000 18000
Bergen +2.4%
Essex +18.0%
Hudson +12.5%
Passaic +2.9%
Other +16.7%
Total +6.5%
2018 2019
5679
1767
191
1778
941
10356
5578
1442
214
1750
758
9742
0 2000 4000 6000 8000 10000 12000
Bergen +1.8%
Essex +22.5%
Hudson -10.7%
Passaic +1.6%
Other +24.1%
Total +6.3%
2018 2019
MAY 2019 MARKET UPDATE
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e |8
2018 vs. 2019 Active Listings by County All Categories by County as of May 31st
Bergen Essex Hudson Passaic Other Total
2018 6999 1454 1013 1865 835 12166
2019 7034 1512 1025 1711 922 12204
+0.5%
+4.0% -8.3% +1.2% +10.4%
+0.3%
0
2000
4000
6000
8000
10000
12000
14000
MARKET UPDATE MAY 2019
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Average List Price by County – All Categories* Past 12 Months
Average List Price – All Counties All Categories*- 2015-2019
*Excludes Commercial & Rentals
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
May2018
July Sept Nov Jan Mar May2019
Bergen Essex Hudson Passaic Other Total
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2015 $536,206 $539,925 $552,906 $605,500 $583,065 $608,361 $546,229 $512,438 $566,933 $549,042 $496,200 $502,727
2016 $523,468 $541,623 $585,522 $578,450 $578,716 $593,757 $549,342 $537,994 $586,229 $549,837 $516,836 $464,083
2017 $571,123 $586,073 $638,312 $618,008 $598,022 $616,742 $578,478 $528,347 $586,242 $591,976 $527,903 $527,719
2018 $621,471 $575,293 $613,600 $625,615 $663,247 $612,084 $557,172 $578,097 $617,169 $574,459 $535,186 $520,486
2019 $589,804 $605,707 $616,974 $624,644 $626,719
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
MAY 2019 MARKET UPDATE
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e |10
Average List Price by County - Residential Month of May
Average List Price by County – Single Family Month of May
$740,488
$520,114
$635,957
$404,509
$567,306
$627,763
$748,677
$526,953
$643,523
$377,086
$543,943
$631,448
$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000
Bergen -1.1%
Essex -1.3%
Hudson -1.2%
Passaic +7.3%
Other +4.3%
Total -0.6%
2018 2019
$804,720
$606,926
$492,819
$425,799
$604,153
$684,384
$836,730
$622,068
$725,466
$394,621
$580,688
$706,319
$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000
Bergen -3.8%
Essex -2.4%
Hudson -32.1%
Passaic +7.9%
Other +4.0%
Total -3.1%
2018 2019
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 11
New Residential Rental Listings 2015-2019
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2015 834 654 855 949 1024 1154 1103 1044 912 925 812 726
2016 786 805 877 881 1104 1236 1097 1047 984 909 811 707
2017 931 857 857 959 1195 1251 1120 1105 1053 1041 914 758
2018 1011 840 885 1014 1143 1274 1211 1188 997 1040 932 768
2019 1022 891 1019 1054 1288
0
200
400
600
800
1000
1200
1400
MAY 2019 MARKET UPDATE
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YTD New Residential Rental Listings by County
As of May 31st
Average Residential Rental List Price Month of May
3823
305
732
332
82
5274
3645
217
644
300
87
4893
0 1000 2000 3000 4000 5000 6000
Bergen +4.9%
Essex +40.6%
Hudson +13.7%
Passaic +10.7%
Other -5.7%
Total +7.8%
2018 2019
$2,801
$2,178
$2,876
$2,164
$2,371
$2,728
$2,742
$2,311
$2,414
$2,115
$2,580
$2,648
$0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500
Bergen +2.2%
Essex -5.8%
Hudson +19.1%
Passaic +2.3%
Other -8.1%
Total +3.0%
2018 2019
MARKET UPDATE MAY 2019
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Under Contract – All Categories* 2015-2019
*Excludes Rentals
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2015 1183 1311 1751 1923 2218 2268 2079 1772 1632 1851 1524 1416
2016 1301 1652 2117 2400 2298 2464 1966 2166 1946 1940 1753 1527
2017 1464 1649 2330 2189 2557 2494 2146 2193 1889 1995 1759 1549
2018 1511 1692 2244 2343 2576 2551 2226 2130 1712 2130 1746 1350
2019 1520 1735 2212 2581 2666
0
500
1000
1500
2000
2500
3000
MAY 2019 MARKET UPDATE
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YTD Under Contract by County - All Categories* As of May 31st
YTD Under Contract by County - Residential (Single Family, Multi-Family, CCT) - As of May 31st
YTD Under Contract by County - Single Family As of May 31st
*Excludes Rentals
5372
1968
731
2015
647
10733
5258
1765
685
2071
587
10366
0 2000 4000 6000 8000 10000 12000
Bergen +2.2%
Essex +11.5%
Hudson +6.7%
Passaic -2.7%
Other +10.2%
Total +3.5%
2018 2019
5252
1940
699
1967
631
10489
5137
1722
661
2033
579
10132
0 2000 4000 6000 8000 10000 12000
Bergen +2.2%
Essex +12.7%
Hudson +5.7%
Passaic -3.2%
Other +9.0%
Total +3.5%
2018 2019
3687
1255
152
1323
497
6914
3592
1066
135
1318
425
6536
0 1000 2000 3000 4000 5000 6000 7000 8000
Bergen +2.6%
Essex +17.7%
Hudson +12.6%
Passaic +0.4%
Other +16.9%
Total +5.8%
2018 2019
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 15
Under Contract by Price Range - RES (Single Family, Multi-Family, CCT) – May 31st
Bergen Essex
Hudson Passaic
MAY 2019 MARKET UPDATE
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e |16
Under Contract by Price Range – Single Family May 31st
Bergen Essex
Hudson Passaic
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 17
Absorption Rate (Months Inventory) As of May 31st
(Calculated using current actives divided by the 12 month average UC.)
All Categories – 6.0 Months
(All Categories except Rental)
Residential – 4.3 Months (Single Family, Multi-Family, CCT)
0.0
1.0
2.0
3.0
4.0
5.0
6.0
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2018 2019
0.0
1.0
2.0
3.0
4.0
5.0
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2018 2019
MAY 2019 MARKET UPDATE
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Absorption Rate (Months Inventory) As of May 31st
(Calculated using current actives divided by the 12 month average UC.)
Single Family – 4.4 Months
Condo/Co-op/Townhouse – 5.0 Months
0.0
1.0
2.0
3.0
4.0
5.0
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2018 2019
0.0
1.0
2.0
3.0
4.0
5.0
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2018 2019
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 19
Total Units Sold – All Categories* All Categories 2015-2019
*Excludes Rentals
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2015 1054 826 1042 1162 1274 1817 2078 1786 1546 1578 1249 1574
2016 1178 1049 1294 1344 1614 2087 1927 2083 1751 1602 1565 1727
2017 1327 1103 1393 1351 1805 2207 1980 2255 1751 1723 1564 1710
2018 1288 1076 1330 1617 1749 2088 2284 2220 1642 1779 1555 1630
2019 1255 1106 1401 1567 1897
200
400
600
800
1000
1200
1400
1600
1800
2000
2200
2400
MAY 2019 MARKET UPDATE
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YTD Sold by County - All Categories* As of May 31st
YTD Sold by County - Residential
(Single Family, Multi-Family, CCT) - As of May 31st
YTD Sold by County - Single Family
As of May 31st
*Excludes Rentals
3682
1226
519
1422
416
7265
3591
1088
552
1447
383
7061
0 1000 2000 3000 4000 5000 6000 7000 8000
Bergen +2.5%
Essex +12.7%
Hudson -6.0%
Passaic -1.7%
Other +8.6%
Total +2.9%
2018 2019
3596
1203
498
1392
404
7093
3521
1061
537
1415
373
6907
0 1000 2000 3000 4000 5000 6000 7000 8000
Bergen +2.1%
Essex +13.4%
Hudson -7.3%
Passaic -1.6%
Other +8.3%
Total +2.7%
2018 2019
2396
753
94
915
314
4472
2341
608
94
909
264
4216
0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000
Bergen +2.3%
Essex +23.8%
Hudson 0.0%
Passaic +0.7%
Other +18.9%
Total +6.1%
2018 2019
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 21
Total Residential Units Sold 2015-2019
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2015 1033 852 1008 1140 1237 1845 2047 1786 1520 1555 1219 1532
2016 1156 1024 1259 1316 1585 2057 1891 2056 1567 1567 1541 1683
2017 1300 1076 1364 1316 1780 2168 1950 2222 1725 1683 1536 1664
2018 1257 1044 1303 1577 1725 2120 2243 2189 1608 1746 1520 1592
2019 1250 1074 1365 1528 1857
200
400
600
800
1000
1200
1400
1600
1800
2000
2200
2400
MAY 2019 MARKET UPDATE
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Units Sold by Price Range - RES (Single Family, Multi-Family, CCT) – May 31st
Bergen Essex
Hudson Passaic
MARKET UPDATE MAY 2019
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Total Single Family Units Sold 2015-2019
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2015 624 498 620 688 785 1223 1386 1216 989 987 769 978
2016 744 626 793 838 1005 1392 1303 1384 1094 990 972 1104
2017 817 640 795 795 1133 1455 1300 1482 1129 1056 966 1044
2018 766 597 819 936 1097 1391 1504 1503 997 1044 983 1039
2019 761 643 876 967 1215
200
400
600
800
1000
1200
1400
1600
MAY 2019 MARKET UPDATE
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e |24
Units Sold by Price Range – Single Family May 31st
Bergen Essex
Hudson Passaic
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 25
Average Days on the Market by County – All Categories
Past 12 Months
Average Days on the Market – All Counties All Categories 2015-2019
40
60
80
100
May2018
July Sept Nov Jan Mar May2019
Bergen Essex Hudson Passaic Other Total
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2015 91 102 102 89 82 75 68 71 74 79 90 88
2016 92 93 98 87 77 76 70 70 76 78 83 82
2017 86 86 89 72 73 65 62 61 67 73 67 73
2018 77 83 81 80 65 64 59 60 60 71 67 72
2019 70 78 74 74 76
0
20
40
60
80
100
120
MAY 2019 MARKET UPDATE
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Median Sold Price – All Categories* 2015-2019
Month of May
*Excludes Rentals
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2015 $350,500 $347,950 $350,000 $362,000 $380,000 $395,000 $404,000 $410,000 $365,000 $355,000 $375,000 $371,399
2016 $360,000 $345,000 $353,500 $359,950 $378,000 $395,000 $405,000 $400,000 $389,944 $370,000 $376,000 $374,000
2017 $369,500 $355,500 $360,000 $374,000 $390,000 $415,000 $414,950 $410,000 $400,000 $375,000 $378,750 $379,000
2018 $370,000 $375,000 $385,000 $395,000 $415,000 $426,000 $430,000 $430,000 $404,500 $395,000 $400,000 $405,000
2019 $382,312 $375,125 $390,000 $405,000 $420,000
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
$370,000
$390,000
$410,000
$430,000
Bergen Essex Hudson Passaic Total
2017 $440,000 $345,000 $428,500 $300,000 $390,000
2018 $477,000 $362,500 $510,000 $326,000 $415,000
2019 $470,000 $384,500 $499,000 $347,000 $420,000
+8.4%
+5.1%
+19.0%
+8.7%
+6.4%
-1.5%
+6.1%
-2.2%
+6.4%
+1.2%
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
$550,0002017 2018 2019
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 27
Median Sold Price by County – All Categories* Past 12 months
YTD Median Sold Price – All Categories*
2018 vs. 2019 – May 31st
*Excludes Rentals
$240,000
$340,000
$440,000
$540,000
May2018
July Sept Nov Jan Mar May2019
Bergen Essex Hudson Passaic Other Total
$445,000
$355,000
$468,000
$329,500
$360,000
$397,000
$450,000
$316,250
$450,000
$315,000
$329,600
$389,000
$250,000 $300,000 $350,000 $400,000 $450,000 $500,000
Bergen -1.1%
Essex +12.3%
Hudson +4.0%
Passaic +4.6%
Other +9.2%
Total +2.1%
2018 2019
MAY 2019 MARKET UPDATE
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Median Sold Price – Residential (Single Family, CCT, Multi-Family)
Median Sold Price by County –Month of May
Past 12 Months
YTD 2018 vs. 2019 - As of May 31st
Bergen Essex Hudson Passaic Total
2017 $440,000 $345,000 $428,500 $300,000 $389,000
2018 $476,000 $365,000 $508,500 $326,000 $415,000
2019 $470,000 $384,500 $498,000 $342,000 $418,000
+8.2%
+5.8%
+18.7%
+8.7%
+6.7%
-1.3%
+5.3%
-2.1%
+4.9%
+0.7%
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
$550,0002017 2018 2019
$200,000
$300,000
$400,000
$500,000
$600,000
May2018
July Sept Nov Jan Mar May2019
Bergen Essex Hudson Passaic Other All Counties
$445,000
$355,000
$466,500
$330,000
$363,000
$396,000
$450,000
$315,000
$450,000
$315,000
$330,000
$387,994
$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000
Bergen -1.1%
Essex +12.7%
Hudson +3.7%
Passaic +4.8%
Other +10.0%
Total +2.1%
2018 2019
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 29
Median Sold Price – Single Family Month of May
Past 12 Months
YTD 2018 vs. 2019 - As of May 31st
Bergen Essex Hudson Passaic Total
2017 $480,000 $439,500 $348,000 $310,000 $425,000
2018 $523,000 $411,000 $407,500 $350,000 $447,500
2019 $513,500 $450,250 $371,500 $355,000 $453,000
+9.0%
-6.5% +17.1%
+12.9%
+5.3%
-1.8%
+9.5%
-8.8% +1.4%
+1.2%
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
$550,000
$600,0002017 2018 2019
$250,000
$350,000
$450,000
$550,000
May2018
July Sept Nov Jan Mar May2019
Bergen Essex Hudson Passaic Other Total
$480,000
$405,000
$357,500
$340,000
$395,000
$425,000
$480,000
$382,450
$366,000
$330,000
$370,000
$420,000
$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000
Bergen 0.0%
Essex +5.9%
Hudson -2.3%
Passaic +3.0%
Other +6.8%
Total 1.2%
2018 2019
MAY 2019 MARKET UPDATE
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e |30
Total Residential Rental - Units Leased 2015-2019
YTD Residential Rental Median Leased Price by County - As of May 31st
2018 YTD Median Leased Price all Counties - $2,000 2019 YTD Median Leased Price all Counties - $2,100
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
2015 615 574 729 767 815 954 913 864 723 709 610 585
2016 623 668 745 766 863 949 866 963 735 715 624 579
2017 637 622 793 668 880 983 864 941 771 763 668 618
2018 636 753 803 806 919 971 964 987 730 767 632 569
2019 714 703 848 827 987
0
100
200
300
400
500
600
700
800
900
1000
$2,100
$1,900
$2,200
$1,825
$2,000
$2,100
$2,100
$1,785
$2,100
$1,750
$2,070
$2,000
$0 $500 $1,000 $1,500 $2,000 $2,500
Bergen 0.0%
Essex +6.4%
Hudson +4.8%
Passaic +4.3%
Other -3.4%
Total +5.0%
YTD 2018 vs. 2019
2018 2019
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 31
Other Market Indicators
MAY 2019 MARKET UPDATE
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e |32
Monthly Open House Count
Keybox Showings MAY – 26,546
Jan Feb March April May June July August Sept Oct Nov Dec
2017 2532 2772 3482 4755 3565 4344 4322 3584 3872 4805 2885 2017
2018 2737 3042 4069 5200 4355 5677 5585 4221 5619 5100 3914 2814
2019 3137 3959 6101 4984 5322
0
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
5500
6000
6500
Op
en
Ho
us
es
0
5000
10000
15000
20000
25000
30000
0
200
400
600
800
1000
1200
1400
1600
1800
2000
2200
2400
2600
2800
May
'16
July
Sep
t
No
v
Jan
Mar
May
'17
July
Sep
t
No
v
Jan
Mar
May
'18
July
Sep
t
No
v
Jan
Mar
May
'19
KEY
BO
X S
HO
WIN
GS
UC
/SO
LDS
UC SOLDS KEYBOX SHOWINGS
MARKET UPDATE MAY 2019
Prepared by NJMLS June 10, 2019 – Information herein deemed reliable but not guaranteed P a g e | 33
NJMLS.com Hits
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2018 527,321 550,044 706,075 717,337 700,552 632,872 600,290 571,941 523,535 544,303 455,857 406,507
2019 543,860 540,437 661,520 674,060 686,836
%Chg 3.14% -1.75% -6.31% -6.03% -1.96%
Monthly Visits - Public Sites - 2018 vs. 2019 2018 2019 %Chg
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
app 51,243 53,814 66,006 66,809 64,395
mobile 235,693 238,317 293,382 306,653 319,617
website 256,924 248,306 302,132 300,598 302,824
256
,924
248
,306
302,
13
2
300
,598
302
,824
235,
693
238,
31
7 293
,382
306,
653
319,
61
7 51,
243
53,8
14
66,0
06
66,8
09
64,3
95
Visits by Source - Public Sites - 2019 app mobile website
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