New Jersey Home Values & Market Trends
There have been 115,335 properties sold in the New Jersey real estate market trends. Median home values in the New Jersey housing market are $484,054.16. The median residential home value for transactions over the last 12 months is 420,858.849. The State of New Jersey currently has 28,294 properties in foreclosure, 657 bank owned properties, and 2,333 headed for auction.
New Jersey Real Estate Market Overview
| County | Median Est. Value | County | Median Est. Value |
|---|---|---|---|
| Ocean | $ 459,463 $ 265/sqft | Burlington | $ 327,071 $ 205/sqft |
| Monmouth | $ 672,476 $ 341/sqft | Somerset | $ 542,000 $ 298/sqft |
| Middlesex | $ 470,005 $ 298/sqft | Passaic | $ 495,236 $ 282/sqft |
| Atlantic | $ 376,209 $ 215/sqft | Hudson | $ 598,800 $ 357/sqft |
| Bergen | $ 699,968 $ 362/sqft | Mercer | $ 349,970 $ 241/sqft |
| Essex | $ 500,384 $ 266/sqft | Sussex | $ 353,200 $ 237/sqft |
| Morris | $ 593,455 $ 305/sqft | Gloucester | $ 305,078 $ 183/sqft |
| Camden | $ 270,366 $ 175/sqft | Cumberland | $ 243,969 $ 163/sqft |
| Union | $ 509,200 $ 327/sqft | Warren | $ 359,047 $ 203/sqft |
| Cape May | $ 716,419 $ 482/sqft | Hunterdon | $ 510,890 $ 246/sqft |
Housing Market Summary for New Jersey
| Aug 2022 | August 2023 | Change | |
|---|---|---|---|
| Median Listing Price | $470.5K | $438.8K | -6.73% |
| Median Sold Price | $413.3K | $438.8K | 6.17% |
| Homes For Sale | 15,688 | 11,972 | -23.69% |
| Homes Sold | 84,098 | 59,136 | -29.68% |
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 New Jersey
Browse Homes in New Jersey
There are currently 11,644 properties for sale in New Jersey. The current home value ranges in price from 1 to 40,000,000. The total count of properties in the state is 2,610,389, and the percentage of properties for sale is 29.16%.
- Pre-ForeclosurePre-foreclosure homes account for 0.97% of all residential properties in New Jersey with Camden containing 2501 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 $10,800,000 in Bergen to the lowest home value of $46,130 in Camden.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in New Jersey ranges from the highest value of $1,950,000 in Bergen to the lowest value of $51,267 in Camden. Bank owned homes and properties account for 0.03% of properties in New Jersey. There are 21 counties within New Jersey; Camden containing 74 REO properties, has the highest number of bank owned properties in a single county.
- AuctionsEssex has 233 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 0.09% 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 $6,270,770 in Essex to the lowest value of $63,020 in Essex.
