REGIONAL RESULTS | DECEMBER 2022

ESSEX*, HUNTERDON, MORRIS, SOMERSET & UNION* COUNTIES

Residential Properties - Activity by Price

All Prices

Homes For Sale New Listing Homes Sold

Contracts Pended Days on Market

UNDER $1 MILLION

Homes For Sale New Listing Homes Sold

Contracts Pended Days on Market

Dec. 2022 Dec. 2021

% Change Dec. 2022 Dec. 2021

1301 1142 14% 539 683 -21% 737 1002 -26% 1048 1556 -33% 34 34 0%

$1,000,000 - $1,999,999 MILLION

% Change

940 855 10% 468 609 -23% 657 891 -26% 908 1391 -35% 33 33 0%

Homes For Sale New Listing Homes Sold

Contracts Pended Days on Market

% Change Dec. 2022 Dec. 2021

257 191 35% 58 63 -8% 67 92 -27% 118 139 -15% 38 38 0%

$2,000,000 - $2,999,999 MILLION

% Change Dec. 2022 Dec. 2021

Homes For Sale

New Listing Homes Sold

Contracts Pended Days on Market

56 51 10% 8 9 -11% 11 16 -31% 15 18 -17% 42 79 -47%

Homes For Sale New Listing Homes Sold

Contracts Pended Days on Market

$3 MILLION+

% Change Dec. 2022 Dec. 2021

48 45 7% 5 2 150% 2 3 -33% 7 8 -13% 87 66 32%

This report is inclusive of results from select municipalities in Essex and Union counties as follows: Essex County: Berkeley Heights Twp, Mountainside Boro, New Providence Boro, Scotch Plains Twp Union County: Essex Fells Twp, Livingston Twp, Maplewood Twp, Millburn Twp, Montclair Twp, South Orange Village Twp, Summit City, West Orange, Westfield Twp

TOTAL DOLLAR VOLUME

MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price Supply and Demand (as of December 31, 2022)

YTD 2022 YTD 2021 39 46 -15.2% 177 248 -28.6% $16,930,000 $18,179,700 -6.9% $128,043,908 $115,134,496 11.2% $380,000 $365,000 4.1% $421,000 $386,250 9% $434,102 $395,210 9.8% $723,412 $464,252 55.8% 30 29 3.4% 38 35 7.1% 99.1% 99.9% -0.8% 99.2% 98.9% 0.3% ç

% CHANGE % CHANGE 66.7%

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 39 43 -9.3% 181 234 -22.6% $27,956,888 $24,618,500 13.6% $134,354,192 $158,519,092 -15.2% $690,000 $550,000 25.5% $701,000 $651,000 7.7% $716,843 $572,523 25.2% $742,288 $677,432 9.6% 28 37 -24.3% 27 32 -15.5% 101.2% 101.7% -0.5% 103.7% 101.7% 1.9% ç 73.3%

% CHANGE % CHANGE

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 82 125 -34.4% 421 567 -25.7% $56,531,476 $82,613,760 -31.6% $335,212,736 $418,407,564 -19.9% $564,500 $580,000 -2.7% $736,500 $665,000 10.8% $689,408 $660,910 4.3% $796,230 $737,932 7.9% 26 30 -13.3% 25 29 -14.2% 100.3% 101% -0.7% 102.6% 100.6% 1.9%

YTD 2022 YTD 2021 YTD 2022 YTD 2021 75% 17.1% ç ç ç

% CHANGE % CHANGE 7 4 0 1

% CHANGE % CHANGE 100% ç

$766,000 7% $1,152,095 $1,007,466 14.4% $1,084,781 $936,861 15.8% 44 70 -37.1% 43 75 -42.3% 96.4% 96.8% -0.5% 99.6% 98% 1.6%

Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE NC

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 9 18 -50% 66 70 -5.7% $7,167,000 $13,981,305 -48.7% $51,165,580 $51,456,752 -0.6% $765,000 $718,500 6.5% $692,500 $719,750 -3.8% $796,333 $776,739 2.5% $775,236 $735,096 5.5% 32 34 -5.9% 33 50 -33.2% 98.3% 96.9% 1.5% 100.4% 98.8% 1.6%

$0-$999,999 % CHANGE

$1,000,000-$1,999,999 % CHANGE

Overview Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE 83.3% 100% ç ç

$2,000,000-$2,999,999 % CHANGE

$3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY

53 63 11 6 2 1 0 0 4 4.42 0.91 5 0.92 5.45

YTD 2022 YTD 2021 YTD 2022 YTD 2021 YTD 2022 YTD 2021 YTD 2022 YTD 2021 NC 15.9% 1 0.17 6.00 0 0.00 N/A ç

$0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY

% CHANGE % CHANGE

$530,000 3.8% $616,199 $537,849 14.6% $589,299 $546,572 7.8% 30 32 -6.3% 27 31 -11.5% 101.2% 101% 0.3% 102.9% 101.6% 1.3%

% CHANGE % CHANGE

12.8% $457,500 $404,500 13.1% $418,200 $410,610 1.8% $443,417 $411,567 7.7% 51 45 13.3% 51 28 82.1% 96.5% 100.5% -4% 100.5% 100.5% 0%

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 13 34 -61.8% 107 178 -39.9% $12,088,600 $33,085,000 -63.5% $111,778,623 $186,882,732 -40.2% $860,000 $876,500 -1.9% $900,000 $956,000 -5.9% $929,892 $973,088 -4.4% $1,044,660 $1,049,903 -0.5% 24 32 -25% 30 35 -15.2% 102.6% 101.4% 1.1% 106.1% 100.6% 5.5%

Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE

57.1% ç

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 36 53 -32.1% 187 218 -14.2% $36,476,184 $58,744,500 -37.9% $229,679,496 $249,050,680 -7.8% $760,000 $975,000 -22.1% $1,100,000 $1,080,000 1.9% $1,013,227 $1,108,386 -8.6% $1,228,233 $1,142,434 7.5% 47 38 23.7% 33 32 3.4% 99.1% 99.6% -0.5% 102.6% 100.4% 2.2%

% CHANGE % CHANGE

100% 4.3% ç

$1,583,000 $3,624,000 -56.3% $17,172,000 $13,727,899 25.1% $520,000 $636,500 -18.3% $630,000 $636,000 -0.9% $527,666 $604,000 -12.6% $686,880 $623,995 10.1% 51 20 155% 22 30 -26.7% 102.5% 101.5% 1% 103.1% 92.6% 11.3%

Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE

$730,000 28.4% $850,904 $804,502 5.8% $907,685 $813,188 11.6% 47 36 30.6% 29 51 -42.7% 98.6% 100.2% -1.6% 102.1% 100.2% 1.9%

MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE

YTD 2022 YTD 2021 11 8 37.5% 36 48 -25% $4,579,775 $3,820,500 19.87% $16,068,775 $20,041,500 -19.8% $389,000 $473,750 -17.9% $428,000 $387,500 10.5% $416,343 $477,562 -12.8% $446,355 $417,531 6.9% 26 20 30% 26 25 5% 101.8% 101.5% 0.4% 102.8% 101.2% 1.7%

HOMES SOLD

Q4 2022 Q4 2021 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

YTD 2022 YTD 2021 38 48 -20.8% 171 238 -28.2% $18,521,000 $24,965,904 -25.8% $91,923,032 $123,282,536 -25.4% $495,000 $492,450 0.5% $525,000 $492,500 6.6% $487,394 $520,123 -6.3% $537,562 $517,994 3.8% 30 30 0% 28 31 -9% 99.5% 102% -2.5% 102.8% 101.4% 1.4%

% CHANGE % CHANGE ç ç 1 0.33 3.00

33.3%

TOTAL DOLLAR VOLUME

MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price

YTD 2022 YTD 2021 1 7 -85.7% 11 23 -52.2% $2,850,000 $8,680,000 -67.2% $22,045,000 $27,357,496 -19.4% $2,850,000 $815,000 249.7% $875,000 $755,000 15.9% $2,850,000 $1,240,000 129.8% $2,004,090 $1,189,456 68.5% 85 74 14.9% 78 84 -7% 95.2% 99.5% -4.4% 93.7% 94.8% -1.2% 50% 50% ç ç

Supply and Demand (as of December 31, 2022)

% CHANGE % CHANGE