New Jersey Sales for Existing Homes for March

New Jersey real estate sales results.

U.S. existing-home sales unexpectedly rose 1.7% month-over-month to a seasonally adjusted annual rate of 4.09 million, as lower mortgage rates helped boost buyer activity, according to the National Association of REALTORS® (NAR). Monthly sales increased in the Midwest, South, and West but decreased in the Northeast. Sales increased year-over-year in the South, but fell in the Northeast, Midwest, and West.

• Single Family Closed Sales were down 2.2 percent to 3,705.
• Townhouse-Condo Closed Sales were down 8.7 percent to 1,308.
• Adult Communities Closed Sales were down 1.0 percent to 514.
• Single Family Median Sales Price increased 2.7 percent to $570,000.
• Townhouse-Condo Median Sales Price increased 1.7 percent to $416,500.
• Adult Communities Median Sales Price decreased 0.1 percent to $359,740.

Data from NAR show that inventory continued to grow nationwide, ticking up 2.4% month-over-month and 4.9% year-over-year to 1.29 million units heading into March, representing a 3.8-month supply at the current sales pace. Meanwhile, home prices increased for the 32nd consecutive month, climbing 0.3% year-over-year to $398,000