New Jersey Home Values & Market Trends

There have been 107,639 properties sold in the New Jersey real estate market trends. Median home values in the New Jersey housing market are $498,116.91. The median residential home value for transactions over the last 12 months is 420,186.773. The State of New Jersey currently has 29,094 properties in foreclosure, 434 bank owned properties, and 2,164 headed for auction.

New Jersey Real Estate Market Overview

CountyMedian Est. ValueCountyMedian Est. Value
Ocean

$ 454,237

$ 276/sqft

Somerset

$ 546,300

$ 315/sqft

Monmouth

$ 669,000

$ 347/sqft

Mercer

$ 342,900

$ 238/sqft

Middlesex

$ 476,000

$ 298/sqft

Gloucester

$ 319,800

$ 184/sqft

Atlantic

$ 300,700

$ 196/sqft

Hudson

$ 563,050

$ 368/sqft

Bergen

$ 681,800

$ 375/sqft

Passaic

$ 495,850

$ 297/sqft

Essex

$ 541,950

$ 307/sqft

Sussex

$ 361,050

$ 234/sqft

Camden

$ 280,100

$ 179/sqft

Cumberland

$ 206,400

$ 136/sqft

Cape May

$ 642,350

$ 496/sqft

Warren

$ 363,850

$ 211/sqft

Morris

$ 623,100

$ 306/sqft

Hunterdon

$ 477,900

$ 247/sqft

Burlington

$ 343,900

$ 208/sqft

Salem

$ 235,900

$ 154/sqft

Union

$ 532,800

$ 339/sqft

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Housing Market Summary for New Jersey

Mar 2023February 2024Change
Median Listing Price$477.3K$462.5K-3.11%
Median Sold Price$414.3K$462.5K11.65%
Homes For Sale10,6729,249-13.33%
Homes Sold62,97955,653-11.63%
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Price Per Square Foot

On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.

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Browse Homes in New Jersey

There are currently 10,579 properties for sale in New Jersey. The current home value ranges in price from 1 to 24,999,000. The total count of properties in the state is 2,611,083, and the percentage of properties for sale is 10579.00%.

Foreclosure
There are 21 counties within New Jersey; within these counties, the median estimated home value for homes in foreclosure ranges from $1,692,000 in Cumberland to the lowest value of $57,260 in Cumberland. Foreclosure homes account for 1.00% of properties in New Jersey with Camden containing 2806 foreclosures, the highest number of foreclosure properties in a single county.
  • Pre-Foreclosure
    Pre-foreclosure homes account for 1.01% of all residential properties in New Jersey with Camden containing 2569 pre-foreclosures, the highest number of pre-foreclosure properties in a single county. There are 21 counties within New Jersey; of those counties, the estimated home value for pre-foreclosure homes ranges from $730,800 in Morris to the lowest home value of $57,260 in Cumberland.
  • Bank Owned
    The median estimated home value of bank owned homes (REO properties) in New Jersey ranges from the highest value of $697,500 in Essex to the lowest value of $70,720 in Camden. Bank owned homes and properties account for 0.02% of properties in New Jersey. There are 21 counties within New Jersey; Camden containing 43 REO properties, has the highest number of bank owned properties in a single county.
  • Auctions
    Bergen has 198 auction properties, the highest number of properties going to auction in a single county in the state of New Jersey. Auction homes and other auction properties account for 0.08% of all properties in New Jersey. There are 21 counties within New Jersey; of those counties, the median estimated home value for homes going to auction ranges from $1,869,000 in Hudson to the lowest value of $62,520 in Hudson.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.41% of residential properties in New Jersey with Ocean containing 2158 homes for sale, the highest number of listed properties in a single county. There are 21 counties within New Jersey; homes for sale in those counties, have a range of median values from $1,884,000 in Bergen to the lowest value of $37,330 in Cumberland.
    Sold Homes
    The median value for recently sold homes ranges from $1,562,000 in Somerset to the lowest price of $28,170 in Somerset. There are 21 counties within New Jersey. Ocean has 6401 recently sold homes, the highest number of recently sold properties in a single county. Recently sold homes and properties account for 2.07% of properties in New Jersey.

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      Guide for New Jersey

      Market Reports
      Jersey City Real Estate Thrives with Robust Demand and Strong Growth in February 2024
      Home Buying Financing
      How To Get House Mortgage With Low Credit Score
      Wholesale
      Legal Pitfalls to Avoid When Dealing with Pre-Foreclosure Sellers
      Home Buying Guides & Tips
      How Do You Buy a House if You’re Broke?
      See More Articles
      Jersey City Real Estate Thrives with Robust Demand and Strong Growth in February 2024
      Market Reports|posted 18 March 2024

      The Jersey City real estate market continues to show robust growth with prices rising to an average of $595,000 per property and $394 per square foot in February 2024.

      How To Get House Mortgage With Low Credit Score
      Home Buying Financing|posted 22 March 2024

      Learn how to secure a house mortgage even with a low credit score.

      Legal Pitfalls to Avoid When Dealing with Pre-Foreclosure Sellers
      Wholesale|posted 20 March 2024

      Explore the legal pitfalls to avoid when dealing with pre-foreclosure sellers. Learn how to navigate the complex process safely and protect yourself from costly mistakes and legal complications.

      How Do You Buy a House if You’re Broke?
      Home Buying Guides & Tips|posted 20 March 2024

      What can you do when you want to buy a house when you’re strapped for cash?