Here's a 6 month post rate hike market update for Millburn, NJ (April 2022 - Oct 2022 since interest rates went up).

During this time, the average home sale price decreased from $1.94m to $1.7m. The average days on market increased from 14 to 24, and the average sales/list price decreased from 104% to 101%.

There has definitely been a cooling in the market, however it's still a seller's market.

Real estate is local. What's depicted in the national headlines doesn't always correspond to what's happening in our local markets.