Housing Market Update: New Jersey - May 2025

For residential real estate activity in the state of New Jersey

U.S. existing-home sales dipped 0.5% month-over-month and 2.0% year-over-

year to a seasonally adjusted annual rate of 4.00 million units, according to the

National Association of REALTORS® (NAR). Sales increased in the Midwest,

decreased in the West and Northeast, and were unchanged in the South. Year-

over-year, sales were down in every region except the Northeast.

• Single Family Closed Sales were down 0.5 percent to 4,963.

• Townhouse-Condo Closed Sales were up 2.1 percent to 1,887.

• Adult Communities Closed Sales were down 3.1 percent to 650.

• Single Family Median Sales Price increased 7.1 percent to $600,000.

• Townhouse-Condo Median Sales Price increased 0.2 percent to $420,000.

• Adult Communities Median Sales Price increased 6.1 percent to $380,000.

There were 1.45 million units actively for sale heading into May, a 9.0% increase

from the previous month and a 20.8% improvement from the same time last year,

for a 4.4-month supply at the current sales pace, according to NAR. The median

existing-home price edged up 1.8% year-over-year to $414,000 as of last

measure, the 22nd consecutive month of annual price increases and a new record

high for the month.

Data as of June 20, 2025. All data from the multiple listing services in the state of New Jersey. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2025 ShowingTime Plus, LLC.