Saddle Brook, NJ – May 25, 2025 - U.S. existing-home sales decreased 5.9% month-over-month and 2.4% year-over-year to a seasonally adjusted annual rate of 4.02 million units, according to the National Association of REALTORS® (NAR), as affordability challenges and economic uncertainty weigh on market activity. Sales were down month-over-month in all four regions, with the West experiencing the largest decline, at 9.4%.
Total housing inventory increased 8.1% month-over-month for a total of 1.33 million units heading into April, equivalent to a 4.0-month supply at the current sales pace, according to NAR. Although inventory is up nearly 20% from the same time last year, the additional supply has had little effect on home prices across much of the country, with the national median existing-home price climbing 2.7% year-over-year to $403,700 as of last measure.
The Bergen County market is shifting, not stalling.” states Greater Bergen REALTORS® Immediate Past President, Lisa Comito. “We saw that single-family sales rose 1.9% and prices climbed 11.5% to $800,000 which shows a continued demand. But with condo and adult community sales down, and inventory up 8.1%, the market is clearly shifting. There’s an opportunity for those who stay informed and adapt quickly.”
Highlights From April 2025 Report:
- Single Family Closed Sales increased 1.9 percent to 324.
- Townhouse-Condo Closed Sales decreased 12.6 percent to 153.
- Adult Communities Closed Sales decreased 45.5 percent to 6.
- Single Family Median Sales Price was up 11.5 percent to $800,000.
- Townhouse-Condo Median Sales Price was down 0.2 percent to $435,000.
- Adult Communities Median Sales Price was up 27.0 percent to $544,950.
Click Here for the full ShowingTime report for the month of April 2025.
Data as of May 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.