Real Estate Market Trends Report for Sussex County, NJ – March 2025

Current Market Overview: March 2025 Analysis

Welcome to the latest real estate market update for Sussex County, New Jersey, brought to you by Countryside Homes NJ and RE/MAX Town & Valley. This comprehensive analysis examines the trends for single-family homes, condos, townhouses, and apartments in Sussex County as of March 2025, based on data from Realtors Property Resource® (RPR) and public records. Whether you’re a buyer, seller, or simply interested in the local market, this report will provide valuable insights into the current state of real estate in Sussex County and what it means for you.

Sussex County Residential Market Trends - Realtors Property Resource - March 2025

Market Overview: A Seller’s Market Persists

In March 2025, Sussex County continues to experience a seller’s market for single-family homes, condos, townhouses, and apartments. The market type indicator, which ranges from a seller’s market to a buyer’s market, firmly positions Sussex County in favor of sellers. This is driven by low inventory, strong demand, and favorable pricing trends, as evidenced by the key metrics below.

Key Metrics at a Glance

Months of Inventory: 1.92 months (+2.1% month-over-month)
Sold to List Price Percentage: 102.55% (+1.1% MoM)
Median Days in RPR (Sold Listings): 28 days (-15.2% MoM)
Median Sold Price: $400,000
Median Estimated Property Value: $448,130 (+0.9% MoM)

Detailed Analysis of Market Trends

1. Market Type and Inventory: A Tight Seller’s Market

The months of inventory metric, which measures how long it would take to sell the current housing stock at the current sales pace, stands at 1.92 months in March 2025. This is a slight increase of 2.1% from the previous month, indicating a marginal uptick in available properties. However, a balanced market typically has 5-6 months of inventory, so 1.92 months clearly signals a strong seller’s market.

Implications:
- For Sellers: Low inventory means less competition, giving sellers a significant advantage. Properties are in high demand, often leading to multiple offers and quick sales.
- For Buyers: The tight inventory creates a challenging environment. Buyers must act swiftly and be prepared for competitive bidding, often above the asking price.

2. Sold to List Price Percentage: 102.55%

The sold-to-list price percentage of 102.55% indicates that homes are selling for 2.55% above their asking price on average, a clear sign of strong buyer demand. This metric increased by 1.1% month-over-month, reflecting continued upward pressure on prices.

Implications:
- For Sellers: This trend is highly favorable, as it shows buyers are willing to pay a premium to secure properties in Sussex County.
- For Buyers: Expect bidding wars. To compete, buyers may need to offer above the list price and work with a real estate agent to craft a compelling offer.

3. Median Days in RPR: Faster Sales

The median days in RPR for sold listings is 28 days, down 15.2% from the previous month. This means homes are selling faster than they were in February 2025, underscoring the high demand in the market.

Comparison Across Listing Types:
- Active Listings: Median days in RPR is 29 days (+23.7% MoM), indicating that active listings are taking slightly longer to move compared to sold listings.
- New Pending Listings: Median days in RPR is 20 days (-13% MoM), showing that new pending sales are moving even faster.
- Pending Listings: Median days in RPR is 24 days (-14.3% MoM), reflecting a quick transition from listing to pending status.
Implications:
- For Sellers: The rapid sales pace means you can expect a short listing period before receiving offers, especially if your property is priced competitively.
- For Buyers: With homes selling in under a month, there’s little time to hesitate. Be ready to make decisions quickly and have financing in place.

4. Median Sold Price and Estimated Value

The median sold price for properties in Sussex County is $400,000, consistent across both sold listings and public records data. Meanwhile, the median estimated property value is $448,130, up 0.9% month-over-month, indicating that property values are appreciating.

Implications:
- For Sellers: The gap between the median sold price and estimated value suggests potential for further price growth, as the market continues to favor sellers.
- For Buyers: While $400,000 is relatively affordable compared to other New Jersey counties closer to urban centers, the upward trend in estimated values signals that prices may continue to rise.

5. New Listings: A Surge in Activity

In March 2025, 240 new listings were added to the market, a significant 46.3% increase month-over-month. Key details include:

Median List Price: $449,450 (+12.4% MoM)
Median Price per Square Foot: $263 (+1.5% MoM)
Total Dollar Volume: $126,801,385 (+66.5% MoM)
Median Living Area: 1,758 sqft (+14.8% MoM)
Analysis: The sharp increase in new listings and total dollar volume reflects heightened seller activity, possibly due to favorable market conditions. The rise in median list price aligns with the overall trend of appreciating property values.

6. Active Listings: Steady Growth

There are 309 active listings in Sussex County, up 2.7% from the previous month. Key details include:

Median List Price: $419,900 (+5.2% MoM)
Median Price per Square Foot: $262 (+0.8% MoM)
Total Dollar Volume: $170,435,250 (+4.2% MoM)
Median Living Area: 1,656 sqft (+11.3% MoM)
Analysis: The modest increase in active listings aligns with the slight uptick in months of inventory, but the market remains tight. The median list price of active listings is lower than new listings, suggesting that older listings may be priced more conservatively to attract buyers.

7. Pending Listings: Strong Buyer Interest

New Pending Listings: 172 properties with a median list price of $399,450 (+0.1% MoM), a 39.8% increase in the number of properties month-over-month. Total dollar volume is $78,140,322 (+41.9% MoM).
Pending Listings (Overall): 254 properties with a median list price of $399,949 (+2.5% MoM), up 21.5% in volume. Total dollar volume is $123,938,926 (+20.2% MoM).
Analysis: The significant increase in new pending listings indicates robust buyer demand, with properties moving quickly into pending status (median days in RPR of 20 days for new pending listings). The slight difference in median list price between new and overall pending listings suggests a mix of price points in the pipeline.

8. Sold Listings: Consistent Performance

In March 2025, 109 properties were sold, up 2.8% month-over-month. Key details include:

Median Sold Price: $400,000
Sold to List Price Percentage: 102.55% (+1.1% MoM)
Median Price per Square Foot: $266 (+2.6% MoM)
Total Dollar Volume: $48,658,550 (+12.1% MoM)
Public Records Data: Public records show 113 properties sold with a median sold price of $400,000, a 10.3% increase in the number of sales month-over-month. Total dollar volume is $53,529,237 (+2.1% MoM), with a median price per square foot of $261 (+2.8% MoM).
Analysis: The consistency in median sold price across listings and public records reinforces the stability of property values in Sussex County. The increase in sales volume and price per square foot reflects continued buyer willingness to pay a premium.

Market Dynamics: What’s Driving the Trends?

1. Low Inventory and High Demand

The 1.92 months of inventory and rapid sales pace (28 days for sold listings) highlight a market where demand far outstrips supply. Despite a 46.3% increase in new listings, the overall inventory remains low, sustaining the seller’s market conditions.

2. Rising Prices and Property Values

The sold-to-list price percentage of 102.55% and the 0.9% increase in median estimated property value ($448,130) indicate that prices are trending upward. The median list price of new listings ($449,450) further supports this trend, as sellers are pricing properties optimistically in response to market conditions.

3. Faster Sales and Buyer Competition

The 15.2% decrease in median days in RPR for sold listings, combined with the high sold-to-list price percentage, shows that buyers are acting quickly and competitively. The increase in new pending listings (39.8% MoM) underscores this urgency.

4. Stable Property Characteristics

The median living area for sold properties (1,653 sqft per public records) and the median price per square foot ($266 for sold listings, $261 per public records) suggest that buyers are purchasing moderately sized homes at a premium, reflecting the value placed on properties in Sussex County.

Advice for Buyers and Sellers in Sussex County

For Buyers:

Act Swiftly: With homes selling in just 28 days and new pending listings moving even faster (20 days), you need to be ready to act as soon as a property hits the market. Set up listing alerts and schedule viewings immediately.
Prepare for Competition: The sold-to-list price percentage of 102.55% means bidding wars are common. Be prepared to offer above the asking price, and consider including an escalation clause in your offer to stay competitive.
Get Pre-Approved: Having a mortgage pre-approval demonstrates to sellers that you’re a serious buyer, which is crucial in a fast-moving market.
Work with a Local Expert: Partner with a real estate agent who understands the Sussex County market to help you navigate the competitive landscape and find the right property.

For Sellers:

Price Strategically: With homes selling above asking price, you can price your property competitively to attract multiple offers. However, avoid overpricing, as buyers are still sensitive to value.
Highlight Your Property’s Appeal: Emphasize features that make your home stand out, such as modern upgrades, a desirable location, or spacious living areas (median sold properties are around 1,653 sqft).
Be Ready for a Quick Sale: With properties moving in under a month, ensure your home is market-ready—staged, repaired, and professionally photographed—to attract buyers quickly.
Leverage the Market: The high demand and low inventory give you an advantage. Work with an experienced agent to maximize your sale price and negotiate favorable terms.

Looking Ahead

The trends in March 2025 suggest that Sussex County will likely remain a seller’s market in the near term. The slight increase in inventory (2.1% MoM) and the surge in new listings (46.3% MoM) may provide some relief for buyers, but the market remains tight with only 1.92 months of inventory. The continued appreciation in property values (median estimated value up 0.9% MoM) and the high sold-to-list price percentage indicate that prices may continue to rise if demand remains strong.

However, external factors such as interest rates, economic conditions, and seasonal trends could influence the market in the coming months. For example, rising interest rates could cool buyer demand, potentially increasing inventory and slowing price growth. Conversely, if inventory remains low, the seller’s market could intensify, driving prices even higher.

At Countryside Homes NJ and RE/MAX Town & Valley, we’re committed to helping you navigate the Sussex County market with confidence. Whether you’re looking to buy your dream home or sell your property for top dollar, our team has the expertise and local knowledge to guide you every step of the way. Contact us today to get started!

Data sourced from Realtors Property Resource® (RPR) and public records data from March 2025. Information is not guaranteed.

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