Listed and sold in November

• 153 Morningside Rd, Verona (highest price sale in Verona 2025)
• 9 Rappleye Ct, West Orange
• 74 Porter Pl, Montclair
• 221 Pershing Ave, Roselle Park

Real Estate Market Slows for Holidays

I hope everyone had a great Thanksgiving and we are in the mindset of the Holiday season.

November was a disappointing month for buyers as there were only 15 new listings, down from 32 in October and 22 in Nov ‘24.

At this writing, there are only 6 houses available that aren’t pending or over $2.5 million. I expect buyers will largely take a break from the market and take up the search again as inventory builds in late January/ early February.

November closed sales data was consistent with last year, albeit with higher prices. 24 homes closed at an average price of $1.49 million versus 22 homes last year at an average price of $1.26 million.

The median price of $1.56 million exceeded the average price for the 2nd month in a row, indicating consistently high prices across the market. Price premiums above ask averaged 19% among November closings, consistent with 20% across the past 12 months.

Sellers, now is the time to talk about preparations for listing in 2026.

Here’s a helpful calendar and we look forward to answering your questions and concerns!

I always welcome comments and questions.

We are here to help.

Best, Rich