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

• Months of Inventory: 1.97 Months
  • Analysis: With only 1.97 months of inventory, the market is extremely tight. A balanced market typically has 4-6 months of inventory, so this low figure underscores the scarcity of available properties. Compared to last month, inventory increased by 15.9%, suggesting a slight uptick in listings. However, the 12-month change shows a 2.5% decrease, indicating that supply remains constrained over the longer term. For buyers, this means fierce competition, while sellers can expect quick sales.
• Sold-to-List Price Ratio: 101.76%
  • Analysis: Homes are selling for 101.76% of their list price, a clear sign of strong buyer demand. This ratio, which increased by 0.2% month-over-month (MoM), shows that buyers are willing to pay a premium to secure properties. For sellers, this is an ideal scenario to maximize returns.
• Median Days in RPR (Sold Listings): 31 Days
  • Analysis: Properties are selling fast, with a median of 31 days on the market, though this is up 14.8% from the previous month. In a balanced market, homes typically take 60-90 days to sell, so this rapid pace highlights the urgency among buyers. Sellers can expect quick transactions, while buyers need to act decisively.
• Median Sold Price: $410,500 (Listings) / $421,000 (Public Records)
  • Analysis: The median sold price from listings is $410,500, up 3.9% MoM, while public records report a slightly higher $421,000, down 24.7% MoM. The discrepancy and significant drop in the public records figure may reflect a lag in recording or a specific batch of sales closing at lower price points. However, the overall trend of rising prices in the listings data suggests continued appreciation, benefiting sellers.

Property Values and Appreciation

• Median Estimated Property Value: $439,520
  • Analysis: The median estimated property value in Warren County for March 2025 is $439,520, up 1.8% from the previous month and a robust 12.4% year-over-year. This growth outpaces both the broader New Jersey and U.S. markets, as shown in the RPR data, highlighting Warren County as a strong area for property value appreciation. For homeowners, this is great news for equity growth, while buyers should note the upward trend in costs.

New Listings: A Surge in Activity

• Median List Price: $425,000 | # of Properties: 142 | Median $/Sqft: $241 | Total $ Volume: $67,373,178 | Median Living Area: 1,844 Sqft
  • Analysis: New listings in March 2025 show significant growth across all metrics. The median list price rose 9.3% MoM to $425,000, reflecting seller confidence in the market. The number of properties jumped 47.9% to 142, indicating a wave of new inventory. The median price per square foot increased by 4.3% to $241, and the total dollar volume soared 42.4% to $67,373,178. The median living area also grew by 8.7% to 1,844 sqft, suggesting that larger homes are entering the market. This influx of new listings may provide some relief for buyers, but the rapid absorption rate (as seen in the low months of inventory) means competition remains high.

Active Listings: Steady Growth

• Median List Price: $449,000 | # of Properties: 170 | Median Days in RPR: 23 | Median $/Sqft: $238 | Total $ Volume: $86,129,826 | Median Living Area: 1,844 Sqft
  • Analysis: Active listings also show growth, with the number of properties up 12.6% to 170 and the median list price slightly up 0.9% to $449,000. The median days on the market dropped 32.4% to 23 days, indicating that even with more listings, demand is absorbing inventory quickly. The median price per square foot rose 2.6% to $238, and the total dollar volume increased 8.1% to $86,129,826. The median living area grew 4.1% to 1,844 sqft, consistent with the trend of larger homes being listed. For buyers, the increase in active listings offers more options, but the fast sales pace means you’ll need to move quickly.

New Pending and Pending Listings: Strong Buyer Activity

• New Pending Listings: Median List Price: $399,900 | # of Properties: 88 | Median Days in RPR: 20 | Median $/Sqft: $238 | Total $ Volume: $41,691,097 | Median Living Area: 1,677 Sqft
  • Analysis: New pending listings increased by 10% to 88 properties, with the median list price up 9.6% to $399,900. The median days on the market dropped 16.7% to 20 days, showing that properties are going under contract even faster than active listings. The median price per square foot rose 3.5% to $238, and the total dollar volume surged 31.5% to $41,691,097. The median living area remained nearly flat, down 0.2% to 1,677 sqft, indicating smaller homes in this segment.
• Pending Listings: Median List Price: $397,449 | # of Properties: 136 | Median Days in RPR: 22 | Median $/Sqft: $234 | Total $ Volume: $64,062,396 | Median Living Area: 1,693 Sqft
  • Analysis: Total pending listings grew 5.4% to 136 properties, with the median list price up 6% to $397,449. The median days on the market decreased 2.1% to 22 days, and the median price per square foot increased 2.2% to $234. The total dollar volume rose 18.5% to $64,062,396, and the median living area remained stable at 1,693 sqft. The high number of pending sales reflects robust buyer interest, further reinforcing the seller’s market dynamics.

Sold Listings and Public Records: A Closer Look

• Sold Listings: Median Sold Price: $410,500 | # of Properties: 75 | Sold-to-List Price %: 101.76% | Median Days in RPR: 31 | Median $/Sqft: $233 | Total $ Volume: $32,418,140
  • Analysis: Sold listings increased 11.9% to 75 properties, with the median sold price up 3.9% to $410,500. The sold-to-list price ratio of 101.76% (up 0.2% MoM) confirms that homes are selling above asking. The median days on the market rose 14.8% to 31 days, while the median price per square foot increased 4.5% to $233. The total dollar volume grew 17.3% to $32,418,140, reflecting healthy sales activity.
• Sold Public Records: Median Sold Price: $421,000 | # of Properties: 67 | Median $/Sqft: $232 | Median Living Area: 1,855 Sqft | Total $ Volume: $28,048,001
  • Analysis: Public records show 67 properties sold, down 27.2% MoM, with a median sold price of $421,000, down 24.7% MoM. The median price per square foot dropped 11% to $232, and the median living area decreased 11.1% to 1,855 sqft. The total dollar volume fell 16% to $28,048,001. The declines in public records data may reflect delays in recording or a specific subset of sales, but the listings data provides a more current and optimistic view of the market.

What This Means for Buyers and Sellers

• The Seller’s Market (1.97 months of inventory) and homes selling above list price (101.76%) make this an ideal time to sell. You’re likely to receive competitive offers and potentially sell for more than your asking price.
• Properties are moving quickly (20-31 days on the market), ensuring a fast sales process. Rising prices ($410,500-$421,000 median sold) and strong property value growth ($439,520 median estimated value) mean you can capitalize on the market’s upward trend.

• The tight inventory and fast-moving market (20-23 days for active and pending listings) make buying challenging. Be prepared to act quickly and consider offering above asking to compete.
• Prices are rising, with the median list price for active listings at $449,000 and sold prices around $410,500-$421,000. The 12.4% year-over-year increase in estimated property values suggests that waiting may lead to higher costs.