Is Sussex County, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Sussex County was a Seller's Market.
Key Takeaway
Sussex County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Sussex County, NJ
How much do homes in Sussex County, NJ cost?
Median Sold Price
$378,452
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sussex County have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Sussex County was $378,452 in May 2024, up 10.3% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.5K | $198K | +14.8% |
| 2 Bedrooms | $250K | $285.3K | +14.1% |
| 3 Bedrooms | $353K | $383.1K | +8.5% |
| 4 Bedrooms | $479.9K | $530K | +10.4% |
| 5+ Bedrooms | $650K | $626K | -3.7% |
Summary: Sussex County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes decreased by 3.7%.
Median Sold Price Compared To Nearby Counties
| Pike County | $237.5K | $267K | +12.4% |
| Morris County | $570.5K | $636.7K | +11.6% |
| Passaic County | $454.7K | $505K | +11.1% |
| Sussex County | $342.9K | $378.4K | +10.3% |
| Orange County | $382.7K | $414.9K | +8.4% |
Housing Supply in Sussex County, NJ
How many homes are available in Sussex County, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 753 | 870 | +15.5% |
Summary: The Sussex County real estate market had 870 homes for sale in May 2024, a 15.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 51 | 54 | +5.9% |
| 2 Bedrooms | 169 | 188 | +11.2% |
| 3 Bedrooms | 302 | 351 | +16.2% |
| 4 Bedrooms | 173 | 218 | +26.0% |
| 5+ Bedrooms | 58 | 59 | +1.7% |
Summary: The Sussex County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 26%, and 5+ bedroom homes increased by 1.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 148 | 144 | -2.7% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
95 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sussex County, you could pay more than the asking price. 66% of homes here sold above asking price last month.
Summary: A total of 144 homes were sold or pending in Sussex County in May 2024, down by 2.7% month-over-month. Of the 144 sold homes, 24% were sold under asking, 10% were sold at asking, and 66% were sold over asking.
Days on Market for Sussex County, NJ
How long does it take to sell a home in Sussex County, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 6 Days | 12 Days | +100.0% |
Summary: Homes in Sussex County had an average of 12 days on market in May 2024, up by 100% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sussex County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 144 homes were sold in Sussex County; 1% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.