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Market analysis··2 min read

Patrick Southern of Serhant: Insights into New Jersey's Residential Real Estate Market

Patrick Southern, a broker at Serhant, closed 376 contracts in 2025, primarily in Jersey City, and now plans to build a new development business in New Jersey.

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Patrick Southern of Serhant: Insights into New Jersey's Residential Real Estate Market. Illustrative image generated using artificial intelligence (AI). The image does not depict a real property, person or event and is not a documentary photograph. Labelled in accordance with Article 50(4) of the EU AI Act.

Patrick Southern of Serhant is considered a doyen of residential real estate in New Jersey. In 2025 alone, he recorded 376 contract closures in the state, the majority of which were in Jersey City. This city is located in close proximity to Manhattan's vibrant luxury housing market and is experiencing a post-pandemic upswing, which Southern consistently aims to expand to make the region's attractiveness comparable to that of its neighbour across the Hudson River.

Southern is pursuing this endeavour at Serhant with the support of CEO and founder Ryan Serhant. In September, the Commercial Observer conducted an interview with Southern as part of its 'Get to Know the Broker' series, which explores the motivations and success factors of residential real estate brokers.

Career Highlights and Strategic Approaches

When asked about the biggest deal of his career, Southern named the sale of the Dixon Advisory portfolio. He was tasked with assisting a large hedge fund in liquidating its portfolio. This involved coordinating the sale of approximately 700 properties. Southern described this task as unusual and complex, as he had to plan the sales order, pricing, and efficient processing for all 700 units. The goal was to achieve the highest possible proceeds quickly, without affecting the company's own inventory through internal competition.

He emphasised that connecting the private sales side with a large corporate structure presented its own challenge. However, he stuck to his approach and conveyed to the company the importance of speed and timing. After establishing appropriate leadership, an effective team was formed. This project remains one of the most interesting experiences in his career to date.

Goals and Influences

His "career Everest" is building a new development business with Ryan Serhant in New Jersey. Southern pursues an ambitious goal regarding the number of contracted units here. He describes himself as goal-oriented, disciplined, and planning-focused, which keeps him and his team on track. He strives to constantly expand his goals as soon as they come within reach, to ensure continuous development.

Southern named Mike Ferry as his greatest influence. He joined a coaching programme at a young age because he lacked clear direction without mentors. Ferry's programme taught him to dream big, set goals, create a timeline, refine sales skills, and consistently execute a plan.

Regarding his favourite architect, Southern stated that this depends on his current mood. However, he is currently fascinated by John Lautner. From the 1940s to the 1970s, Lautner built extraordinary and dramatic houses in Los Angeles, many integrated into hillsides, appearing more landed than built. The Chemosphere House, which looks like a spaceship on a pedestal, is a well-known example. Southern appreciates Lautner for not shying away from building something that stood out from its surroundings.

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