Single family home prices rose more than 11% in 2024, landing the median sales price at $560,000, according to New Jersey Realtors housing market data. Closed and pending sales for the year stayed relatively static, with new listings ticking up slightly over 2023. There were 56,541 single family home closed sales in the state last year, a dip of less than a percentage point over 2023. New listings gained almost 5% over 2023, with 75,101 recorded for the year.
“The past year continued to push prices up with more demand on already-low inventory,” said 2025 NJ Realtors® President Kathy Morin. “But the market continues to demonstrate resilience with opportunities for buyers and sellers—and New Jersey remains in demand. Now, more than ever, having a Realtor help guide your buying, selling, or renting journey is essential.”
The percentage of list price received for single family homes rose to 102.8% in 2024, and the time spent on the market declined 5.4% and sat at just 35 days. In December 2024 there were just 12,042 single family homes for sale on the market, down 9.6% over December 2023.
The townhouse/condo market fared similarly, with the median sales price up 11% to $417,000. Closed and pending sales were both up for 2024, with 19,760 closed and 20,009 pending. Inventory remained fairly static year over year, with 4,954 townhouse/condo properties for sale in December 2024, a nominal increase over December 2023.
New listings, pending and closed sales were all down in 2024 for adult communities. Closed sales were down 3.7% to 6,957, with pending sales down 4.8% to 6,962 units. The number of properties for sale in adult communities were also similar, with 1,285 homes for sale in December 2024, a nominal increase over December 2023.
For the full report and a breakdown by county, visit njrealtor.com/data.
