New Jersey’s housing market closed out 2025 with housing prices and buyer demand holding steady, according to year-end housing data released by New Jersey Realtors last week.
The median sales price across all property types rose 5.4% to $525,000, with 86,440 closed sales statewide in 2025. The average number of days on market increased 8.3% to 39 days, while the percentage of list price received saw a 0.7% decline to 101.5%, reflecting a still-competitive environment.
The single-family market posted the strongest gains in median sales price in 2025, rising 6.4% year-over-year to $585,000. Inventory remained limited, with just 8,978 single-family homes for sale statewide in December, a 7.3% decline compared with last year.
Adult communities also had notable price growth, with the median sales price increasing 5.7%, or $20,000, to $370,000 for the year. This segment led the market in new inventory, recording nearly an 8% gain in new listings compared with 2024. The number of homes for sale rose 14.4% in December in adult communities, as well.
The townhouse and condominium market saw more modest appreciation, as the median sales price increased 2.9% year-over-year to $422,000.
Across all property types, pending and closed sales remained relatively steady, moving only a few percentage points in either direction and signaling a market that maintained similar overall activity levels to the prior year.
Competition and limited supply continued to define New Jersey’s housing market, setting it apart from national trends. Homes sold at or above list price on average, with single-family properties receiving 102.2% of list price and spending just over 37 days on the market, well below pre-pandemic norms. Inventory remained tight, with a two-month supply of homes statewide, reinforcing seller confidence and supporting continued price stability.
“The strength of New Jersey’s housing market in 2025 reflects sustained demand paired with a long-standing shortage of available homes,” said 2026 President of New Jersey Realtors Gloria Siciliano.
“As mortgage rates began to ease at the end of the year, we saw renewed buyer interest, and if that trend continues, we’re hopeful it could help drive additional activity in 2026, particularly among buyers who have been sidelined waiting for more favorable market conditions.”
The easing of mortgage rates in late December is expected to support buyer confidence heading further into 2026, potentially encouraging more households to re-enter the market while maintaining the overall stability that characterized 2025.
Mortgage rates fell on Jan. 15 to their lowest level in more than three years following President Donald Trump’s announcement of a $200 billion mortgage-backed securities (MBS) buyback plan aimed at improving housing affordability.
The average rate on 30-year fixed home loans slid to 6.06% for the week ending Jan. 15, down 10 basis points from 6.16% the week before, according to Freddie Mac. Rates averaged 7.04% during the same period in 2024.
