Here's a polished blog post for this week's newsletter that removes the listing spotlight section and reads more like a market update and educational article.

Somerset & Morris County Housing Market Update: More Inventory, More Opportunity

As we move into the heart of summer, one trend is becoming increasingly clear across Somerset and Morris Counties: buyers are finally seeing more choices.

While we're still far from a buyer's market, inventory has continued to grow week over week, creating new opportunities for homebuyers who may have felt frustrated earlier this year. At the same time, well-priced homes continue to attract serious buyers, proving that demand remains healthy throughout Northern New Jersey.

Somerset County Market Snapshot

The latest full-month county data shows Somerset County remains a balanced and active market.

316 new single-family listings
$727,500 median single-family sale price
30 days median time on market

Townhomes and condominiums also continue to perform well with:

130 new listings
$497,000 median sale price
30 days on market

Weekly inventory increased again:

790 total active listings (+47)
Single-family homes: 459 (+16)
Condos: 96 (+9)
Townhomes: 137 (-2)
Multifamily properties: 28 (+10)

The additional inventory gives buyers more options while still supporting strong home values for sellers.

Morris County Market Snapshot

Morris County continues to demonstrate impressive stability.

Latest monthly numbers include:

612 new single-family listings
$775,000 median sale price
28 days on market

Townhouse and condo activity remains healthy:

144 new listings
$555,000 median sale price
24 days on market

Current inventory stands at:

1,067 active listings (+40)
Single-family homes: 688 (-11)
Condos: 80 (unchanged)
Townhomes: 129 (unchanged)
Multifamily properties: 20 (unchanged)

While overall inventory has increased, the primary housing categories have remained remarkably consistent, indicating continued buyer demand for move-in-ready homes.

What Does This Mean for Buyers?

Today's market isn't about trying to perfectly time mortgage rates—it's about being prepared.

Buyers who are pre-approved, understand their monthly payment comfort level, and can act quickly when the right home becomes available continue to have the greatest success.

Having a financing strategy in place before shopping often makes the difference between winning and losing in competitive situations.

What Does This Mean for Sellers?

Inventory is gradually increasing, giving buyers more options than they had earlier this year.

That means pricing your home correctly from day one is becoming even more important. Homes that are well-prepared, professionally marketed, and realistically priced continue to sell efficiently, while overpriced homes are taking longer to attract offers.

Presentation still matters—and so does a strong negotiation strategy.

Mortgage & Economic Outlook

Mortgage rates remain higher than the historic lows of recent years, but buyers continue adapting to today's financing environment.

Economic indicators continue to show moderate growth, with a relatively stable job market helping support housing demand. Inflation has eased from its peak but remains a factor the Federal Reserve continues to monitor.

Rather than waiting for the "perfect" interest rate, many buyers are choosing to purchase the home that fits their needs today while planning to refinance if rates improve in the future.

Looking Ahead

Summer is traditionally one of the busiest seasons in real estate, and the local market continues to reflect that momentum.

More homes are becoming available, serious buyers remain active, and sellers who price strategically continue to see strong results.

Whether you're buying your first home, moving up, downsizing, or exploring a refinance, having a solid mortgage strategy before making your next move can make the entire process smoother and less stressful.

If you'd like to discuss your options—or know someone who's thinking about buying, selling, or refinancing—I'd be happy to help.

Schedule a complimentary 20-minute mortgage strategy consultation.

Warm regards,

Richard L. Bolt (Rich)
Mortgage Loan Officer | NMLS #222703
Cornerstone First Mortgage | Company NMLS #173855
908-332-8575
Rbolt@cfmtg.com

This newsletter is intended for informational purposes only and should not be considered financial or mortgage advice.

References

Somerset County MLS Market Statistics – Latest full-month residential market report (Single-Family, Townhouse/Condo activity, median sale prices, new listings, and days on market).
Morris County MLS Market Statistics – Latest full-month residential market report (Single-Family, Townhouse/Condo activity, median sale prices, new listings, and days on market).
Zillow Research – Active listing inventory snapshot for Somerset and Morris Counties (week-over-week comparison).
Freddie Mac – Primary Mortgage Market Survey® (PMMS®) for national mortgage rate trends.
Federal Reserve – Recent statements and economic outlook regarding inflation, employment, and monetary policy.
U.S. Bureau of Labor Statistics (BLS) – Employment and inflation data.
Local event calendars and municipal community calendars for Somerset and Morris Counties (summer events and community programming).