The latest numbers for Hunterdon and Somerset Counties are out, and given the circumstances, I must say that I’m happy with what I’m seeing. Hunterdon County median sold price is actually UP from five weeks ago. Prices are slightly down for Somerset County, but not by much.
For both counties the number of New Listings and Under Contract (Pending) were both up. Average Days On Market (DOM) is slowly creeping up, but that is no surprise whatsoever: Due to the COVID-19 safety precautions, it is taking buyers a bit longer to see houses, and it is also taking the title companies and attorneys longer to get everything squared away with the towns and counties when coordinating the closings.
Overall, I am happy with the way things look so far. We still have some time ahead of us, but we are not seeing the ‘doom and gloom’ numbers that many of the analysts were predicting as of a few weeks ago.
Hunterdon County
| New Listings | Pending | Closed | Total Active | Average DOM** | Median List Price** | |
| 03-23 to 03-29 | 24 | 21 | 24 | 659 | 103 | $510,000 |
| 03-30 to 04-05 | 33 | 24 | 36 | 626 | 101.5 | $519,000 |
| 04-06 to 04-12 | 27 | 24 | 18 | 617 | 104.5 | $519,450 |
| 04-13 to 04-19 | 27 | 17 | 19 | 609 | 107 | $519,950 |
| 04-20 to 04-26 | 29 | 19 | 22 | 603 | 109 | $519,000 |
Somerset County
| New Listings | Pending | Closed | Total Active | Average DOM** | Median List Price** | |
| 03-23 to 03-29 | 52 | 57 | 54 | 1055 | 80 | $549,000 |
| 03-30 to 04-05 | 62 | 38 | 66 | 1027 | 81 | $547,000 |
| 04-06 to 04-12 | 41 | 38 | 39 | 1000 | 86 | $549,000 |
| 04-13 to 04-19 | 46 | 30 | 51 | 987 | 89 | $549,325 |
| 04-20 to 04-26 | 50 | 36 | 37 | 985 | 92 | $550,000 |
* Source: Garden State Multiple Listing Service (MLS)
** Average DOM and Average List Prices are for ALL active listings, not just the ones updated in the specified date ranges.
***Please keep in mind that these numbers are not audited. I am pulling them manually on a weekly basis. While they are not ‘official’ numbers, they can still be used in general to monitor the real estate activity as we move through the COVID-19 pandemic.
