Housing Report August 2025, 9/22/2025
Bottom Line: Nationally - Market is slowing down / stabilizing
Nationally home values are increasing at a slower pace. Median prices in August rose 1.9% year over year and fell -0.8% from July 2025 to August 2025. Houses are staying on the market longer, 47 days in August 2025 vs 39 days a year earlier. Housing Inventory is now 5 months, almost a balanced market, but this varies by region. Affordability remains a major buyer concern resulting in buyers shifting to smaller, more affordable homes with lower maintenance. Happily, mortgage rates are trending lower.
Bottom Line: Essex County - Houses and Condos Not in Synch.
From July to August single family home prices and units sold fell, but days on market rose. However, Condo prices, units sold and days on market all rose.
Year over year, single family home prices rose, units sold fell, and days on market unchanged. But, Condo prices fell, and units sold and days on market both rose.
Inventory still remains very low, giving sellers an edge if property is reasonably priced.
30 year Mortgage rate for July averaged 6.56%. Today’s mortgage rate is 6.35% (Mortgage News Daily).
To view data for every Essex County town,
- To view data for every Essex County town, http://www.sullivanteam.com/Properties/Reports/Public/Charts.php
- To Download the full housing report go to: http://sullivanteam.com/pages/EssexCountyHousingReports
