Over the past few months leading into mid-Q3, nearly 45% of US home sales involved sellers offering concessions—the highest level seen since at least 2020. That’s a noticeable jump from about 43% a year ago, a sign that buyers are finding more room to negotiate as inventory rises and competition eases nationwide. Concessions have taken many forms, from help with repairs to closing cost credits or even mortgage-rate buydowns, offering buyers more ways to manage their total purchase costs beyond just price reductions. Sellers are adapting, relying on these credits and incentives—not just price cuts—to structure more flexible deals. Nationally, around 16% of homes sold in mid-Q3 combined a price drop with a seller concession, creating another path for buyers to lower their entry costs. In my experience working across North Jersey, I see how these shifting strategies can help clients—whether you’re buying your first home or making your next investment—navigate negotiations with greater confidence and clarity.

As we move into autumn, I’m seeing a notable trend for sellers across our region: the median listing price per square foot has dropped about 2% year-over-year in mid-Q3, marking the tenth straight month of annual price declines nationwide. Homeowners are adjusting their expectations and trimming asking prices after several years of rapid value growth—something I’m witnessing firsthand in North Jersey as well. Higher mortgage rates and ongoing economic uncertainty have many buyers taking extra time to consider their options, evaluate financing, and make sure they’re making the right move. In response, more sellers are becoming flexible with pricing to secure strong offers before the typical winter slowdown sets in. For my pre-approved buyers, this season brings a wider selection of homes and more room to negotiate, presenting real opportunities to explore properties that may have felt out of reach just a few months ago. Whether you’re thinking of buying, selling, or simply watching the local market, I’m here to provide honest, attentive guidance every step of the way.

With mortgage rates still hovering above 7%, affordability is front and center for North Jersey buyers mapping out their next move. As someone who’s helped clients navigate every kind of market in Passaic, Bergen, Morris, Hudson, and Essex Counties, I know how important it is to plan strategically—especially when borrowing costs are high and the Fed is keeping everyone on their toes. Recent studies show that buyers who prepare for possible rate shifts—think a half-point change in 3 months, three-quarters in 6, and a full point by year’s end—are often better positioned when the right home comes along. Interestingly, those who bought later in the year typically found homes about 5% less expensive in early Q4 than in late Q2, with fewer bidding wars and more space to negotiate on price, closing costs, or even temporary rate buydowns. With a five-month inventory recently, buyers have seen stronger bargaining power. While the market is still responding to further Fed tightening, the hope is that easing inflation will eventually bring some relief on mortgage rates. No matter your timing, a well-thought-out plan and local insight can make all the difference in finding the right opportunity.

There's an interesting trend emerging in new home sales: in Early-Q3 2026, 53% of new single-family homes in the US sold for under $400K, compared to 50% a year ago. The median price landed at $393.8K, while the average was higher at $508.8K. This isn’t simply about lower prices—builders are focusing on more entry-level, smaller homes, which shifts the overall mix. Notably, the $300K–$399.9K range jumped to about 34% of sales (up from 28% in Late-Q2), while the mid-range lost ground and the luxury segment over $1M even saw a slight increase in share.

As someone who guides clients through North Jersey’s evolving market, I always encourage looking beyond the sticker price. Price per square foot, lot size, HOA dues, taxes, insurance, quality of finishes, incentives, and total cash required to close all play a part in your decision. With payment pressures still top of mind for many buyers and new-home supply outpacing resales, it’s likely we’ll see even more options under $400K popping up across various markets. If you’re considering a move—whether as a first-time buyer, investor, or looking to upsize or downsize—understanding these shifts can help you find the right fit for your needs.

An annual rankings list evaluated 14 New Jersey cities using four indexes: value, desirability, job market strength, and quality of life overall.
Clifton ranked No. 1. The North Jersey commercial hub had 89.9K residents, $463K median home value, $1.5K median rent, $105K household income, score 5.6.
Jersey City ranked No. 2. The financial hub had 316.7K residents, ~$564K median home value, $1.8K median rent, ~$104K household income, score 5.2.
Bayonne ranked No. 3 with a 5.1 score. It had 71.7K residents, >$464K median home value, $1.5K median rent, and $85K household income.
The statewide list highlighted family-focused choices and communities balancing value, jobs, and quality of life, alongside New Jersey's arts, music, and entertainment appeal.

From September 27 to October 3, buyers were expected to see the strongest national mix of inventory, softer pricing, lighter competition, and slower market speed.
During that window, active listings could reach ↑31.9% versus the year's start and ↑13.3% versus the avg. week, expanding choice nationwide for buyers.
Listing prices were projected 3.5% below their seasonal peak, translating to ~$14K in possible savings on a median-priced US home near $416K.
Competition was historically ↓30.1% from its annual peak, while homes were expected to spend ~64 days on market, giving buyers more time.
The backdrop favored buyers: listings kept growing yearly, demand softened, and experts said earlier fall may widen choice while later fall may improve price flexibility.