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ew Jersey's real estate market saw an increase in new home listings and properties staying on the market longer in October, but also rising home prices. This marked the 12th consecutive month of inventory growth nationwide, with a 29.2% surge in homes actively for sale compared to last year, according to Realtor.com. The number of homes for sale is now at its highest level since December 2019.

    Nationwide, homes stayed on the market for approximately 58 days, an eight-day increase from this time last year and three more days than last month. This made October the slowest in five years. Interest rates also rose, with a median rate of 6.88% for a 30-year fixed-rate mortgage as of October 31, and 6% for a 15-year fixed-rate mortgage.

    In North Jersey, Bergen, Morris, and Hudson counties saw an increase in new listings compared to last year, while Passaic, Essex, and Sussex counties experienced a decrease. Compared to September, only Passaic County had more new listings. Homes in Passaic, Morris, Sussex, and Hudson counties stayed on the market longer than this time last year, while Bergen and Essex counties saw homes stay on the market for fewer days.

    Median home prices increased in 17 of New Jersey's 21 counties from October 2023, with 14 counties seeing an increase compared to September. In North Jersey, Hudson County was the only county to see a decrease in median listing prices, while all other counties experienced price increases.

    Realtor.com recently released a list of the 10 most expensive towns in New Jersey, topped by Deal in Monmouth County with a median home price of $6.27 million. The other towns on the list include Alpine, Mine Hill Township, Sea Girt, Mantoloking, Stone Harbor, Avon-by-the-Sea, Millburn/Chatham, Avalon, and Longport/Egg Harbor Township.

    Here's how all 21 New Jersey counties performed in October: