Saddle Brook, NJ — October 1, 2025 — U.S. existing-home sales rose 2.0% month-over-month and 0.8% year-over-year to a seasonally adjusted annual rate of 4.01 million units, according to the National Association of REALTORS® (NAR). Economists polled by Reuters had forecast a rate of 3.92 million units. Regionally, sales increased on a monthly basis in the West, South, and Northeast, but declined in the Midwest.
“Despite a slight dip in closed and pending sales, the Greater Bergen real estate market continues to show strong growth in home values. The median sales price jumped 9.1% year-over-year to $780,000, while the average sales price surged 10.5% to $965,538. Inventory is on the rise (+7.3%), and although affordability continues to decline, with the recent reduction and anticipated drop-in interest rates - we are hopeful for some stabilization with reference to affordability,” said 2025 Greater Bergen REALTORS Treasurer, Frances Blakely. “Days on market increased significantly (+71.4%), signaling a potential cooling in buyer urgency. Still, homes are selling for 103.3% of list price, indicating that demand remains solid in this appreciating market. Being a REALTOR means upholding the highest standards of professionalism, ethics, and trust backed by a commitment to provide accurate and reliable data that empowers the consumer to make informed decisions. We lead this industry with integrity and must continue to uphold this standard!”
Nationally, 1.55 million units were listed for sale heading into August, up 0.6% from the previous month and 15.7% higher than the same time last year, representing a 4.6-month supply at the current sales pace, according to NAR. Inventory is now at its highest level since May 2020, a shift that has helped slow price growth in many markets. As a result, the national median existing-home sales price edged up just 0.2% year-over-year to $422,400.
Highlights from August 2025 Report
- Single Family Closed Sales increased 1.2 percent to 519
- Townhouse-Condo Closed Sales decreased 8.2 percent to 190
- Adult Communities Closed Sales increased 100.0 percent to 10
- Single Family Median Sales Price was up 15.1 percent to $875,000
- Townhouse-Condo Median Sales Price was up 1.0 percent to $525,000
- Adult Communities Median Sales Price was up 133.6 percent to $782,500
Click Here for the full ShowingTime Report for the month of August 2025