Saddle Brook, NJ – April 28, 2025 - U.S. existing-home sales rebounded from the previous month, rising 4.2% to a seasonally adjusted annual rate of 4.26 million units, according to the National Association of REALTORS® (NAR). Economists polled by Reuters had forecast sales would fall to a rate of 3.95 million for the month. Purchase activity increased in the South and the West but decreased in the Northeast, while sales in the Midwest remained unchanged from one month earlier.

Heading into March there were 1.24 million properties for sale, a 5.1% increase from the previous month and a 17% jump from one year ago, for a 3.5-month supply at the current sales pace, according to NAR. While mortgage rates have remained in the mid-to-high 6% range, the additional supply appears to have helped bring some buyers out of the woodwork, even as sales prices continue to rise nationwide.

"Despite ongoing challenges with low inventory, there is optimism on the horizon as national home sales have grown for the third consecutive month." states Greater Bergen REALTORS® 2025 Treasurer, Frances Blakely. "Serving and educating our local communities on how to navigate today’s market remains a top priority within the Greater Bergen REALTORS® Community."

Highlights From March 2025 Report:

• Single Family Closed Sales decreased 8.4 percent to 272.
• Townhouse-Condo Closed Sales decreased 0.7 percent to 150.
• Adult Communities Closed Sales decreased 41.7 percent to 7.
• Single Family Median Sales Price was up 14.3 percent to $800,000.
• Townhouse-Condo Median Sales Price was up 1.2 percent to $480,750.
• Adult Communities Median Sales Price was up 0.3 percent to $435,000.

Click Here for the full ShowingTime report for the month of March 2025.

Data as of April 20, 2025. All data from New Jersey MLS and Hudson County MLS. Margin of error for reported statewide numbers is +/- 4% at a 95% confidence level. Provided by New Jersey REALTORS®. Report © 2025 ShowingTime Plus, LLC.