🏡 New Jersey Real Estate Market Update – August 2025

The housing market across New Jersey showed a mix of rising prices, slower sales, and growing inventory last month. Here’s what you need to know:

📊 Market Snapshot

• Closed Sales: Down 5.4% overall compared to last year (8,042 homes).

• Median Sales Price: Up 6.6% to $565,000 statewide.

• Average Sales Price: Up 5.8% to $700,192.

• Days on Market: Homes took longer to sell, rising 16.1% to an average of 36 days.

• Inventory: Homes for sale climbed 11.4%, reaching 18,607 units, the highest in several years.

• Months Supply: Increased to 2.7 months, giving buyers a bit more breathing room.

🏠 Single-Family Homes

• Sales fell 4.7% (5,613 homes), but the median price jumped 5.9% to $625,000.

• Inventory rose 7.4%, offering more options for buyers.

🏢 Townhouses & Condos

• Sales dropped more sharply, down 9.2% (1,709 units).

• Median prices edged up 2.7% to $440,495.

• Homes stayed on the market longer—46 days on average.

👵 Adult Communities

• Sales dipped slightly (-1.3%) to 659 units.

• Median price rose 3.1% to $380,000.

• Inventory surged 42.5%, giving buyers more choice.

💡 What This Means

• Sellers: Prices remain strong, but rising inventory means pricing competitively is more important.

• Buyers: More homes are on the market than last year, so there’s less pressure to rush. However, affordability remains a challenge as prices and interest rates affect buying power.

✨ Want to know what these numbers mean for your neighborhood? Reach out today for a custom market report tailored to your area.