Housing Market Update: New Jersey - May 2026

For residential real estate activity in the state of New Jersey

U.S. existing-home sales edged up 0.2% from the previous month to a seasonally adjusted annual rate of 4.02 million, according to the National Association of REALTORS® (NAR). Sales remained unchanged year-over-year. Regionally, existing-home sales rose in the Midwest and South, were flat in the Northeast, and declined in the West. Year-over-year, sales increased in the South, held steady in the West, and fell in the Northeast and Midwest.

• Single Family Closed Sales were down 7.7 percent to 4,611.

• Townhouse-Condo Closed Sales were down 11.0 percent to 1,610.

• Adult Communities Closed Sales were down 8.9 percent to 593.

• Single Family Median Sales Price increased 4.2 percent to $625,000.

• Townhouse-Condo Median Sales Price increased 1.6 percent to $439,000.

• Adult Communities Median Sales Price decreased 3.3 percent to $369,500.

National inventory climbed 5.8% month-over-month and 1.4% year-over-year, with approximately 1.47 million properties listed for sale heading into May, NARreported. At the current sales pace, that represents a 4.4-month supply, reflecting a modest improvement in inventory conditions compared to a year earlier. Homes spent a median of 32 days on the market, down from 41 days the previous month, while the median existing-home price increased to $417,700, up 0.9% from a year ago.

Data as of June 9, 2026. 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.