The median sales price for a single-family home in Bergen County during January was $590,000. That’s an increase of 4.4% compared with January 2021, according to a USA TODAY Network localized analysis generated with data from Realtor.com.
On a year-over-year basis, prices have been rising for 17 consecutive months. January prices are down from $600,000 the previous month.
The number of houses sold rose by 19.1% from a year earlier. A total of 1,004 houses were sold countywide during the month of January. During the same period a year earlier, 843 single-family homes were sold.
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- Passaic County‘s median sales price for a single-family home was $435,000, up 7.7% from a year earlier. Prices have been rising for 18 consecutive months on a year-over-year basis. Some 417 houses were sold in January, down 10.9% from a year earlier.
- Hudson County‘s median sales price for a single-family home was $585,000, up 8.5% from a year earlier. Prices have been rising for 13 consecutive months on a year-over-year basis. Some 307 houses were sold in January, up 79.5% from a year earlier.
- Essex County‘s median sales price for a single-family home was $500,000, up 6.4% from a year earlier. Prices have been rising for three consecutive months on a year-over-year basis. Some 504 houses were sold in January, down 23.1% from a year earlier.
Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through Realtor.com to the USA TODAY Network.
Bergen County condominiums and townhomes sold in January had a median sales price of $415,000. That figure represents a 12.2% increase year over year. Some 268 were sold, up 24.6% from a year earlier.
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Information on your local housing markets is available through the USA TODAY Network, with more data from Realtor.com.
In Bergen County the top 10% of the properties sold had prices of at least $1,050,000, up 7.1% from a year before.
In January, 137 properties sold for at least $1 million, consisting of 114 single-family homes, 11 condominiums or townhomes and 12 other properties.
- In Passaic County the top 10% of the properties sold had prices of at least $643,000, up 3.7% from a year before.
- In Hudson County the top 10% of the properties sold had prices of at least $1,110,000, down 3.5% from a year before.
- In Essex County the top 10% of the properties sold had prices of at least $969,000, up 2% from a year before.
The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale price because experts say the median offers a more accurate view of what’s happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Localized versions are generated for communities where the data quality and transaction volume meets Realtor.com and USA TODAY Network standards. The story was written by Sean Lahman.
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