New Jersey Home Values & Market Trends
There have been 106,195 properties sold in the New Jersey real estate market trends. Median home values in the New Jersey housing market are $501,335.27. The median residential home value for transactions over the last 12 months is 424,371.476. The State of New Jersey currently has 28,300 properties in foreclosure, 433 bank owned properties, and 2,111 headed for auction.
New Jersey Real Estate Market Overview
| County | Median Est. Value | County | Median Est. Value |
|---|---|---|---|
| Ocean | $ 463,172 $ 277/sqft | Mercer | $ 385,200 $ 246/sqft |
| Monmouth | $ 677,500 $ 346/sqft | Union | $ 535,100 $ 341/sqft |
| Middlesex | $ 482,600 $ 302/sqft | Hudson | $ 571,100 $ 374/sqft |
| Atlantic | $ 312,600 $ 202/sqft | Gloucester | $ 322,200 $ 183/sqft |
| Essex | $ 545,800 $ 314/sqft | Passaic | $ 515,800 $ 304/sqft |
| Bergen | $ 689,400 $ 372/sqft | Sussex | $ 366,500 $ 239/sqft |
| Camden | $ 286,350 $ 182/sqft | Cumberland | $ 221,900 $ 149/sqft |
| Morris | $ 630,550 $ 307/sqft | Warren | $ 366,300 $ 212/sqft |
| Cape May | $ 617,600 $ 499/sqft | Hunterdon | $ 491,900 $ 247/sqft |
| Burlington | $ 339,950 $ 210/sqft | Salem | $ 242,700 $ 152/sqft |
| Somerset | $ 578,700 $ 313/sqft |
Housing Market Summary for New Jersey
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $498.6K | $464.6K | -6.81% |
| Median Sold Price | $409K | $464.6K | 13.61% |
| Homes For Sale | 11,326 | 10,438 | -7.84% |
| Homes Sold | 57,619 | 52,306 | -9.22% |
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 11,276 properties for sale in New Jersey. The current home value ranges in price from 1,300 to 22,490,000. The total count of properties in the state is 2,627,020, and the percentage of properties for sale is 11276.00%.
- Pre-ForeclosurePre-foreclosure homes account for 0.98% of all residential properties in New Jersey with Camden containing 2462 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 $737,300 in Morris to the lowest home value of $56,320 in Salem.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in New Jersey ranges from the highest value of $702,000 in Passaic to the lowest value of $67,960 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 42 REO properties, has the highest number of bank owned properties in a single county.
- AuctionsEssex has 201 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 $1,806,000 in Hudson to the lowest value of $60,860 in Hudson.
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More Real Estate Resources for New Jersey
Guide for New Jersey
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.
Learn how a short sale can stop the foreclosure process.
Learn effective strategies to safeguard your credit score after experiencing a foreclosure.
