MARCH MARKET UPDATE

​In March 2025, the Northern New Jersey real estate market exhibited notable trends.

Market Dynamics:

  • Buyer Competition: The market remained competitive, with instances of homes receiving multiple offers and selling above the asking price. For example, a four-bedroom ranch in Wyckoff received numerous offers and sold for about $200,000 over the asking price. ​

  • Mortgage Rates: Rates for a 30-year fixed mortgage remained relatively stable during March, ranging from 6.63% to 6.67%, while 15-year fixed mortgage rates ranged from 5.79% to 5.89%.

📈 Prices are rising 📉 Days on Market are dropping 🏠 Inventory is picking up!⁣⁠ Whether you're buying, selling, or just watching the market—these trends matter.⁣⁠

Here are the latest real estate market insights for towns across New Jersey

 

Overall, the Northern New Jersey housing market in March 2025 demonstrated increased inventory and rising home prices, with a competitive environment leading to quicker sales and instances of homes selling above asking prices

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