Blog > Northern NJ Housing Market Update: Low 6% Rates + 12% More Homes – North Jersey Real Estate Insights by The DeSilva Team

Northern NJ Housing Market Update: Low 6% Rates + 12% More Homes – North Jersey Real Estate Insights by The DeSilva Team

by Eric DeSilva

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What’s Happening in the Northern NJ Housing Market?

Mortgage rates have settled into the low 6% range — a level that historically increases buyer demand. At the same time, housing inventory across Northern New Jersey is up 12% compared to last year.

A brief winter slowdown has created a small window of slightly less competition before the spring market accelerates.

Watch the full breakdown below.

 

What Does “Inventory Up 12%” Actually Mean?

More listings does not automatically mean a buyer’s market.

In many North Jersey towns — including Nutley, Bergen County, and Essex County — well-priced homes are still receiving multiple offers.

What the inventory increase does create is:

  • More options

  • Slightly longer decision windows

  • Less emotional bidding in certain price points

That combination may not last once spring activity increases.

 

If You’re Buying in North Jersey

Right now may offer:

✔ More negotiating flexibility
✔ Less peak-season competition
✔ Time to move before school-year transitions

But strategy matters.

Buying without a plan in this market can still cost you.

 

If You’re Considering Selling

More inventory means pricing and positioning matter more than ever.

Homes that are:

  • Properly priced

  • Professionally marketed

  • Strategically launched

Are still commanding strong offers.

But overpricing in a rising inventory environment can cost time and leverage.

 

 

About the Authors

Eric & Kathryn DeSilva are local North Jersey real estate advisors specializing in strategic pricing, digital marketing exposure, and data-driven negotiation. Based in Nutley, they serve Essex and Bergen County homeowners and buyers.

 

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