New Jersey’s housing market demonstrated sustained strength and renewed activity in June 2025, according to data released July 29 by New Jersey Realtors. Existing home sales surged across all residential categories, fueled by rising inventory, strong buyer interest, and an increasingly dynamic summer selling season.
Statewide, closed sales increased 6.7% over June 2024, totaling 8,304 transactions across single-family homes, townhouses/condominiums, and adult communities. Pending sales, a key indicator of future closings, also rose sharply by 8.2%.
“The June data shows our market moving toward better balance,” said Kathy Morin, 2025 President of New Jersey Realtors. “As inventory expands, buyers have more to choose from, and the consistent demand continues to support strong property values across New Jersey.”
Despite rising home prices, housing affordability remains a concern, particularly for single-family buyers. The overall Housing Affordability Index for June fell to 82, down 3.5% from last year. This suggests that income levels are not keeping pace with price increases and borrowing costs for many New Jersey households.
Median sales price for single-family homes climbed 6.8% to $625,000. Median sales price for townhouses and condos slightly declined 1.4% to $420,000,
Inventory levels for the quarter increased 17.4% statewide, providing relief to a previously tight market. The months’ supply of inventory rose to 2.8 months, a 16.7% gain from a year ago. This trend suggests that the market is gradually moving toward a more balanced environment, though it remains a seller’s market by historical standards.
