Market Sentiment: Insight

What Agents in NY & NJ Are Observing — with Local Snapshots

In 2025, real estate agents across New York and New Jersey are navigating a landscape that’s cautious but far from frozen. Macro-headwinds such as rising interest rates persist, yet pockets of strength, shifting buyer priorities, and local variation are creating opportunity. Below are key trends, followed by county-level snapshots to help you see what’s happening close to home.

Key Trends Agents Are Reporting (Recap)

1. Inventory remains tight — especially for well-priced, well-situated properties.

2. Pricing growth is moderating — upward momentum exists, but buyers have more negotiating power.

3. More frequent price adjustments — especially in suburban or fringe markets.

4. All-cash / investor offers dominate in many competitive segments.

5. Demand is shifting toward homes with better transit access, outdoor space, and flexible layouts.

6. Sentiment and confidence are major drivers — buyers are more hesitant, and marketing, presentation, and responsiveness matter more than ever.

Local Snapshots: NY & NJ Counties and Markets

Below, some recent data that agents are referencing in New York and New Jersey markets. Use this as a benchmark for your own counties.

📍 New York State & NYC Region

• New York City

  • As of August 2025, the typical (median) home value in NYC is ~$796,000, up ~3.2 % year-over-year. Zillow

  • The rental market remains strong: median asking rent in many parts of NYC has climbed, with some boroughs experiencing ~2–3 % year-over-year gains. Colibri Real Estate School

  • In the luxury segment, Manhattan is seeing outsized activity: sales in the top 5 % have surged, and inventory in that tier is tightening. New York Post

  • Despite some macro headwinds, agencies report that high-quality, well-located assets (especially condos/co-ops in desirable neighborhoods) continue to attract buyers. CBRE+1

• Other NY (Upstate / Non-NYC markets)

  • Some upstate markets (Albany, Rochester, Hudson Valley) are registering stronger growth forecasts (5–6 %) relative to NYC, as affordability drives demand outward. closedbymo.com+1

  • Inventory in many of these regions remains constrained, which supports price resilience even in quieter markets. closedbymo.com

📍 New Jersey & Selected Counties

• Statewide NJ Trends

  • In August 2025, home prices in New Jersey were up ~5.8 % year-over-year, with a median sale price around $584,900. Redfin

  • Listings are climbing: the number of homes for sale grew ~10.7 % compared to a year earlier. Redfin

  • The median value across NJ is in the range of $560,000–$590,000 depending on region. Zillow+1

  • The NJ All-Transactions House Price Index (FHFA) is also trending upward: Q2 2025 index at 921.48 vs prior quarters. FRED

• County / Local Examples

  • Essex County

    • Average home value ~ $644,444, up ~3.0 % year-over-year. Zillow

    • Homes move relatively faster: median “days to pending” is ~20 days, and the median sale-to-list ratio is > 1.0 (i.e. many homes sell above list). Zillow

  • Hudson County

    • Listings have increased: ~2,099 homes on market as of June 2025, up ~10.2 % month-over-month. Rocket

    • However, the number of homes sold is modestly declining (~5.8 % MoM) — indicating some softness or buyer caution. Rocket

  • Monmouth County

    • A slight month-over-month decline: ~2,946 homes for sale (down ~4.6 % from May). Rocket

    • Sales also dipped (~4.6 % MoM), showing a tightening of activity or drying up of demand at current pricing in some segments. Rocket

  • Newark (as illustrative urban NJ market)

    • Significant jump in inventory: 634 homes listed in June 2025, ~29.7 % increase over May. Rocket

    • The increase is visible across all bedroom counts, especially 3 to 5-bedroom houses. Rocket

What This Means for Agents & Clients

• Hyperlocal variation matters more than ever. A 5 % price increase in one county might translate to flat or even slight decline in a neighboring county.

• Pricing precision is critical. In many local markets, buyers are sensitive—and overpricing even by a few percent can stall a sale.

• Inventory pressure is easing, but selectively. Some suburban and urban‐adjacent counties are seeing more listings, which gives buyers more choices and more leverage.

• Time on market is creeping upward. Homes are taking a bit longer to go under contract in many competitive markets compared to earlier in the pandemic cycle.

• Investor and cash buyer activity will remain strong. Especially in counties closer to major employment hubs or transit lines, where rental demand and redevelopment potential are attractive.

• Presentation and marketing execution win. Because deal margins are tighter, the difference between average and excellent presentation (photos, staging, responsiveness) is magnified.