Elizabeth, NJ Home Values & Market Trends
Real estate market trends reflect that there have been 747 transactions over the past year in Elizabeth. The median value for residential home transactions that occurred over the previous year is $473,508.1. The number of current listings in Elizabeth is 26, and the percentage of properties for sale in the city is 26.00%. Elizabeth, NJ currently has 170 properties in foreclosure, 3 bank owned properties, 11 properties headed for auction, and 26 properties for sale.
Elizabeth, NJ Real Estate Market Overview
Housing Market Summary for Elizabeth, NJ
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $499K | $441.1K | -11.60% |
| Median Sold Price | $416.6K | $441.1K | 5.87% |
| Homes For Sale | 50 | 25 | -50.00% |
| Homes Sold | 332 | 227 | -31.63% |
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%.
Recently Sold Homes
Explore recent offers and recently sold homes in Elizabeth, NJ
Browse Homes in Elizabeth, NJ
Elizabeth home values range from $196,300 to $1,665,000. The median estimated value of a home in Elizabeth is $473,508.1. The median list price of a home is 462,450, and the total count of properties in the city is 15,134.
- Pre-ForeclosurePre-foreclosure homes account for 1.03% of all residential properties in Elizabeth, NJ with 07202 containing 48 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 3 zips within Elizabeth, NJ; of those zips, the estimated home value for pre-foreclosure homes ranges from $893,900 in 07208 to the lowest home value of $222,500 in 07202.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Elizabeth, NJ ranges from the highest value of $473,800 in 07208 to the lowest value of $473,800 in 07208. Bank owned homes and properties account for 0.02% of properties in Elizabeth, NJ. There are 3 zips within Elizabeth, NJ; 07208 containing 1 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions07208 has 2 auction properties, the highest number of properties going to auction in a single zip in the state of Elizabeth, NJ. Auction homes and other auction properties account for 0.07% of all properties in Elizabeth, NJ. There are 3 zips within Elizabeth, NJ; of those zips, the median estimated home value for homes going to auction ranges from $451,600 in 07202 to the lowest value of $341,600 in 07202.
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Guide for Elizabeth, NJ
The Newark real estate market from 2023 to 2024 exhibited a strong upward growth pattern, with slight fluctuations in property values and sale price per square foot.
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.
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