Local Real Estate Trends Across PA & NJ

The May 2025 real estate market brought a dynamic mix of price appreciation, rising inventory, and moderated sales activity across Pennsylvania and New Jersey. While buyer demand remains strong in many areas, a slight cooling in transaction volume paired with inventory growth is giving the market some much-needed breathing room. Here’s how key counties performed last month:

Bucks County, PA

Bucks County’s median sold price rose to $502,000, reflecting a 3.5% increase compared to last year. However, homes sold dipped by 4.5%, with 513 properties closing in May. Inventory increased to 809 active listings—up 12.5% year-over-year—while the median days on market was just 7 days, one day longer than last May. Sellers continued to see strong returns, with a list to sold price ratio of 101.4%, up slightly by 0.19% month over month.

Montgomery County, PA

Montgomery County experienced a 5.1% jump in median sold price, reaching $476,250. Despite this, the number of homes sold declined by 4.8% year over year, totaling 752 transactions. Active listings climbed to 1,097, an 11.9% increase, suggesting better options for buyers. The median days on market held steady at just 6 days. Sellers enjoyed a favorable 102.3% list to sold price ratio—up 0.47% from April.

Berks County, PA

Berks County saw a healthy 6.8% rise in median sold price, bringing it to $299,124. Sales were down 11.2%, with 348 homes sold during May. Active inventory grew significantly, rising 27.4% to 386 listings. Homes spent an average of 6 days on the market, unchanged from the previous year. The list to sold price ratio climbed to 101.4%, up 0.59% month over month.

Philadelphia, PA

Philadelphia experienced one of the strongest median price increases in the region, up 10.9% to $305,000. However, sales volume declined by 6.4%, with 1,324 homes sold. Active listings rose by 9.3% to 4,538, while median days on market increased slightly to 19 days. The list to sold price ratio decreased to 98.1%, down 0.25% from April, hinting at more negotiation room for buyers.

Chester County, PA

Chester County’s market remains healthy, with median sold prices rising 2% to $560,000 and homes sold increasing 7.7% to 519. Inventory saw a significant bump, with 756 active listings—up 20.6% year over year. The median days on market lengthened by just one day to 6, while sellers continued to see strong offers, closing at 102.6% of asking price, up 0.01% month over month.

Greater Lehigh Valley (GLVR)

The Greater Lehigh Valley’s median sold price increased to $345,000, a 4.4% gain compared to last May. Sales fell 11.4% to 515, and inventory dipped slightly by 2.6%, totaling 700 active listings. Homes stayed on the market for an average of 19 days, matching last year. The list to sold price ratio came in at 101.9%, a small decrease of 0.1% year over year, still indicating a strong seller advantage.

Ocean County, NJ

Ocean County posted a strong performance with a 15.8% jump in median sold price, now at $550,000. Sales activity picked up, with 197 homes sold—up 5.3% year over year. Inventory rose to 499 listings, a 15% increase. The median days on market dropped by two days to 22, and the list to sold price ratio inched up to 99.7%, a 0.03% improvement month over month.

Mercer County, NJ

In Mercer County, the median sold price climbed 11.7% to $480,500. However, home sales declined by 5.6%, with 271 closings in May. Inventory surged by nearly 40%, totaling 563 active listings. The median days on market grew to 15, up by 3 days compared to last year. The list to sold price ratio fell to 101.4%, dropping 0.96% month over month—one of the more notable shifts.

Hunterdon County, NJ

Hunterdon County recorded the highest year-over-year price increase across all counties, with the median sold price soaring 23% to $750,000. Still, only 19 homes sold in May, marking a 9.5% decline in sales activity. Inventory rose 17.8% to 53 active listings. Homes took longer to sell, with a median of 30 days on market—up 5 days. The list to sold price ratio eased slightly to 102%, down 0.07% month over month.

As we head into the summer season, the market is balancing out with rising inventory and strong price performance. While sales have softened in some regions, sellers continue to benefit from solid list-to-sold ratios, and buyers now have more options to explore.