RealTrends Market Report
New Jersey, NJ
Single-Family Homes
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New Jersey, NJ
Sat Apr 27 2024
This week the median list price for New Jersey, NJ is $589,000 with the market action index hovering around 53. This is an increase over last month's market action index of 51. Inventory has held steady at or around 8,734.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Real-Time Market Profile
| Median List Price | $589,000 | |
| Median Price of New Listings | $574,999 | |
| Per Square Foot | $302 | |
| Average Days on Market | 85 | |
| Median Days on Market | 28 | |
| Price Decreased | 17% | |
| Price Increased | 2% | |
| Relisted | 11% | |
| Inventory | 8,734 | |
| Median Rent | ||
| Market Action | 53 | |
| Strong Seller's Market | ||
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Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,702,000 | 3,322 | 0.25 - 0.5 acre | 5 | 4 | 34 | 292 | 308 | 56 |
| $725,000 | 2,228 | 0.25 - 0.5 acre | 4 | 2.5 | 55 | 490 | 523 | 21 |
| $480,000 | 1,708 | 8,000 - 10,000 sqft | 3 | 2 | 64 | 473 | 530 | 21 |
| $290,000 | 1,288 | 6,500 - 8,000 sqft | 3 | 1.5 | 71 | 378 | 441 | 28 |