Is Sussex County, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Sussex County has remained a Seller's Market.
Key Takeaway
Sussex County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sussex County, NJ
How much do homes in Sussex County, NJ cost?
Median Sold Price
$374,916
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sussex County have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Sussex County was $374,916 in March 2024, up 10.2% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170.5K | $195K | +14.4% |
| 2 Bedrooms | $249.9K | $283.5K | +13.4% |
| 3 Bedrooms | $350.8K | $380K | +8.3% |
| 4 Bedrooms | $487K | $516.7K | +6.1% |
| 5+ Bedrooms | $660K | $620K | -6.1% |
Summary: Sussex County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 13.4%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 6.1%.
Median Sold Price Compared To Nearby Counties
| Passaic County | $450K | $499K | +10.9% |
| Sussex County | $340K | $374.9K | +10.2% |
| Morris County | $574.9K | $624.6K | +8.6% |
| Orange County | $380.5K | $407.4K | +7.0% |
Housing Supply in Sussex County, NJ
How many homes are available in Sussex County, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 617 | 733 | +18.8% |
Summary: The Sussex County real estate market had 733 homes for sale in March 2024, a 18.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 41 | 49 | +19.5% |
| 2 Bedrooms | 127 | 159 | +25.2% |
| 3 Bedrooms | 259 | 301 | +16.2% |
| 4 Bedrooms | 155 | 177 | +14.2% |
| 5+ Bedrooms | 35 | 47 | +34.3% |
Summary: The Sussex County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19.5%, 2 bedroom homes increased by 25.2%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes increased by 34.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 95 | 136 | +43.2% |
Asking Price vs. Sold Price
46 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
74 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sussex County, you could pay more than the asking price. 54.4% of homes here sold above asking price last month.
Summary: A total of 136 homes were sold or pending in Sussex County in March 2024, up by 43.2% month-over-month. Of the 136 sold homes, 34% were sold under asking, 12% were sold at asking, and 54% were sold over asking.
Days on Market for Sussex County, NJ
We’re sorry, we don't have information for this market at the moment
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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.