New Jersey Home Values & Market Trends

There have been 102,474 properties sold in the New Jersey real estate market trends. Median home values in the New Jersey housing market are $498,063.43. The median residential home value for transactions over the last 12 months is 417,698.096. The State of New Jersey currently has 4,204 properties in foreclosure, 468 bank owned properties, and 2,209 headed for auction.

New Jersey Real Estate Market Overview

CountyMedian Est. ValueCountyMedian Est. Value
Ocean

$ 442,250

$ 274/sqft

Somerset

$ 513,300

$ 312/sqft

Monmouth

$ 660,550

$ 340/sqft

Mercer

$ 342,800

$ 231/sqft

Middlesex

$ 460,650

$ 294/sqft

Hudson

$ 574,350

$ 365/sqft

Atlantic

$ 305,500

$ 210/sqft

Passaic

$ 489,700

$ 301/sqft

Essex

$ 528,600

$ 290/sqft

Sussex

$ 351,050

$ 243/sqft

Bergen

$ 653,300

$ 367/sqft

Gloucester

$ 302,800

$ 185/sqft

Camden

$ 277,350

$ 176/sqft

Cumberland

$ 216,400

$ 149/sqft

Cape May

$ 583,500

$ 450/sqft

Warren

$ 377,900

$ 207/sqft

Morris

$ 594,850

$ 297/sqft

Hunterdon

$ 446,500

$ 258/sqft

Union

$ 513,650

$ 336/sqft

Salem

$ 257,100

$ 154/sqft

Burlington

$ 328,300

$ 207/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 9,310 properties for sale in New Jersey. The current home value ranges in price from 1,450 to 24,999,000. The total count of properties in the state is 2,611,010, and the percentage of properties for sale is 9310.00%.

Foreclosure
There are 21 counties within New Jersey; within these counties, the median estimated home value for homes in foreclosure ranges from $1,839,000 in Camden to the lowest value of $60,640 in Camden. Foreclosure homes account for 0.00% of properties in New Jersey with Camden containing 360 foreclosures, the highest number of foreclosure properties in a single county.
  • Pre-Foreclosure
    Pre-foreclosure homes account for 0.06% of all residential properties in New Jersey with Ocean containing 143 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 $1,393,000 in Hunterdon to the lowest home value of $60,640 in Camden.
  • Bank Owned
    The median estimated home value of bank owned homes (REO properties) in New Jersey ranges from the highest value of $692,100 in Passaic to the lowest value of $61,080 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 44 REO properties, has the highest number of bank owned properties in a single county.
  • Auctions
    Bergen has 226 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 $1,839,000 in Hudson to the lowest value of $63,240 in Hudson.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.36% of residential properties in New Jersey with Ocean containing 2025 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 $1,875,000 in Bergen to the lowest value of $54,780 in Cumberland.
    Sold Homes
    The median value for recently sold homes ranges from $3,409,180 in Morris to the lowest price of $37,900 in Morris. There are 21 counties within New Jersey. Ocean has 6434 recently sold homes, the highest number of recently sold properties in a single county. Recently sold homes and properties account for 2.09% of properties in New Jersey.

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      Guide for New Jersey

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