NJ Market Data, Digested

Transaction Series

NJ Market Data, Digested

Excerpted from NJ Realtor Magazine/Edited by Stephen Lee with CRI

  10 Key Metrics for the listing presentation or consultation for your clientele:

1.Median Sales Price

       – The midpoint price

              YDT 2025: $500,000           à             8.7% Up

              YDT 2024: $460,000

          – It shows a more typical sales price, rater than average price.  NJ Realtors

              traditionally uses median prices as the metric for prices.

–

2. Average Sales Price

       – The toral dollar volume of sales divided by the number of transactions.

              YDT 2025: $637,613           à             11.4% Up

              YDT 2024: $572,447

          – Useful for understanding overall dollar activity in the market, especially

              when tracking the higher end of the market for sales trends.

–

3. Percent of List Price Received

       – The percentage of the original list price that home actually sell for,

             on average.

              YDT 2025: 100.9%            à             0.3% Down

              YDT 2024: 101.2%

          – A number above 100% typically indicates a competitive market with

              multiple bids above the asking price.

–

4. Days on Market ( Until Sales)

       – DOM.

              YDT 2025: 47            à             11.9% Up

              YDT 2024: 42

          – A Lower number suggests home are selling quickly; higher number may

             indicate home sitting longer until offers are accepted.

–

5. Housing Affordability Index

       – A score where 100 means a median-income household can afford the

             median-priced home.

              YDT 2025: 90            à             7.2%  Down

              YDT 2024: 97

          – The lower the number, the less affordable homes are to the average buyer.

             A number under 100 indicates affordability stress.

6. Inventory of Homes for Sale

       – The total number of active listings on the market during the month.

              March 2025: 21,536            à             0.4%  Up

              March 2024: 21,454

          – Helps measure supply.

8. New Listings

       – The number of properties newly listed on the market during the month.

              YTD 2025: 27,197            à             3.2%  Down

              YTD 2024: 26,182

          – Indicates the flow of fresh supply into the market.

9. Pending Sales

       – The number of homes under contract but not yet closed.

              YTD 2025: 19,362            à             0.6%  Up

              YTD 2024: 19,243

          – A forward-looking indicator of future closed sales activity.

10. Closed Sales

       – The number of sales that have officially closed(finalized) during the month.

              March 2025: 16,347            à             1.2%  Up

              March 2024: 16,151

          – Reflects completed demand and helps track overall market volume.