Saddle Brook, NJ – June 26, 2025 - 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.

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.

“In the current market we see home prices continuing to edge up mildly and inventories rising at a faster pace with more time on the market. The slowing pace of sales with inventory at a 4.4 month supply is not as we hoped for,” states Greater Bergen REALTORS® Vice President, John Johnson. “Overall, however, real estate remains a stable asset with healthy valuations. Buying a home today is a good investment.”

Highlights From May 2025 Report:

• Single Family Closed Sales decreased 9.1 percent to 371.
• Townhouse-Condo Closed Sales decreased 8.4 percent to 196.
• Adult Communities Closed Sales remained flat at 6.
• Single Family Median Sales Price was up 3.1 percent to $810,000.
• Townhouse-Condo Median Sales Price was down 2.0 percent to $475,000.
• Adult Communities Median Sales Price was up 55.7 percent to $691,500.

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

Data as of June 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.