How sizzling is the actual property market in Essex County? Dwelling costs fell over a 12 months

The median gross sales value for a single-family dwelling in Essex County throughout October was $520,000. That is a lower of 0.7% in contrast with October 2020, in keeping with a USA TODAY Community localized evaluation generated with knowledge from Realtor.com.

The variety of homes offered fell by 21.6% from a 12 months earlier. A complete of 533 homes had been offered countywide in the course of the month of October. Throughout the identical interval a 12 months earlier, 680 single-family houses had been offered.

Actual property gross sales can take weeks or months to be recorded and picked up. That is the most recent knowledge made accessible by Realtor.com to the USA TODAY Community.

Condominiums and townhomes offered in October had a median gross sales value of $355,750. That determine represents a 5.1% lower year-over-year. In Essex County, 106 had been offered, up 10.4% from a 12 months earlier.

How sizzling is Essex County’s actual property market in New Jersey?

Info in your native housing markets is offered by the USA TODAY Community, with extra knowledge from Realtor.com.

The highest 10% of the properties offered had costs of at the least $999,999, down 6.1% from a 12 months earlier than.

In October, 64 properties offered for $1 million or extra: 64 single-family houses.

What did that property promote for?: Browse NJ actual property knowledge, together with dwelling gross sales

For subscribers: Will NJ dwelling costs maintain hovering in 2022? This is what actual property specialists anticipate

The median dwelling sale value — the halfway level of all the homes or items offered over a time period — is used on this report as a substitute of the typical dwelling sale value as a result of specialists say the median presents a extra correct view of what is occurring in a market. Find the typical value, all costs of houses offered are added after which divided by the variety of houses offered. This measure may be skewed by one low or excessive value.

The USA TODAY Community is publishing localized variations of this story on its information websites throughout the nation, generated with knowledge from Realtor.com. The story was written by Sean Lahman.

This text initially appeared on NorthJersey.com: Essex County’s common dwelling offered for a lower cost 12 months over 12 months

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