JANUARY MARKET UPDATE

As of early 2025, the New Jersey real estate market exhibits several notable trends:

Inventory Levels: In January 2025, New Jersey saw 6,444 new home listings, marking a 5.85% increase from the same time last year and a significant 52.99% rise from December 2024.

Home Prices: The state's median listing price in January 2025 was $535,000, reflecting a 1.91% increase from the previous year, though a slight 1.37% decrease from December 2024.

Market Activity: In January 2025, over 7K homes were sold in New Jersey, representing a 10.4% year-over-year increase. The median home sale price rose by 9.6% year-over-year to $531,200.

 

Future Outlook: Experts anticipate stable mortgage rates, increased housing inventory, and modestly rising home prices throughout 2025. Realtor.com's 2025 Housing Forecast predicts an 11.7% increase in existing home inventory and a 3.7% rise in home prices.

Overall, the New Jersey real estate market in 2025 is characterized by growing inventory, rising home prices, and increased sales activity, suggesting a dynamic environment for both buyers and sellers.

Feel free to reach out if you have any questions or would like to discuss your specific real estate needs. We’re committed to helping you navigate this evolving market and achieve your goals.

Contact us today for more information or to schedule a consultation.

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