New Jersey Home Values & Market Trends
There have been 104,151 properties sold in the New Jersey real estate market trends. Median home values in the New Jersey housing market are $501,192.22. The median residential home value for transactions over the last 12 months is 423,581.962. The State of New Jersey currently has 28,708 properties in foreclosure, 430 bank owned properties, and 2,161 headed for auction.
New Jersey Real Estate Market Overview
| County | Median Est. Value | County | Median Est. Value |
|---|---|---|---|
| Ocean | $ 465,717 $ 281/sqft | Somerset | $ 548,300 $ 310/sqft |
| Monmouth | $ 679,000 $ 350/sqft | Mercer | $ 365,900 $ 245/sqft |
| Middlesex | $ 487,950 $ 302/sqft | Gloucester | $ 321,600 $ 182/sqft |
| Atlantic | $ 312,200 $ 206/sqft | Hudson | $ 580,800 $ 382/sqft |
| Bergen | $ 668,300 $ 372/sqft | Passaic | $ 490,400 $ 302/sqft |
| Essex | $ 528,600 $ 298/sqft | Sussex | $ 367,900 $ 242/sqft |
| Camden | $ 286,050 $ 182/sqft | Cumberland | $ 222,600 $ 148/sqft |
| Cape May | $ 627,200 $ 486/sqft | Warren | $ 369,400 $ 206/sqft |
| Morris | $ 615,900 $ 309/sqft | Hunterdon | $ 486,550 $ 247/sqft |
| Burlington | $ 340,900 $ 208/sqft | Salem | $ 230,000 $ 154/sqft |
| Union | $ 526,400 $ 336/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 10,673 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 2,611,144, and the percentage of properties for sale is 10673.00%.
- Pre-ForeclosurePre-foreclosure homes account for 1.00% of all residential properties in New Jersey with Camden containing 2491 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 $619,300 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; Burlington containing 35 REO properties, has the highest number of bank owned properties in a single county.
- AuctionsCamden has 210 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 $683,300 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.
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