The Best Time to Buy a House in New Jersey

Thomas O'Shaughnessy


Thomas O'Shaughnessy

October 21st, 2021
Updated October 21st, 2021


Wondering when it’s the best time to buy a house in New Jersey? There are always great homes for sale, but you have a better chance of getting a good deal if you are able to monitor seasonal fluctuations. These fluctuations affect the cost of homes and the amount of competition.

best time to buy new jersey

Buying a house is a stressful and emotional process. You'll likely have to spend weeks touring properties, fill out hundreds of forms, and invest a large chunk of your savings to secure the right house.

One way to make buying a house easier is starting the process at the right time. In New Jersey, housing inventory, mortgage rates, and market trends vary from month to month.

For example, this year listing prices for homes in New Jersey were lowest in January. On average, homes were $44,552 less expensive. While in November — the month with the highest prices — the listing prices were $35,837 more than the annual average.

In truth, the best time to buy a house really depends on your priorities and situation. Read on to find out which time of year will give you the most options and the biggest savings when buying a house in New Jersey.

Best Month For

Listing price
7.2% lower than average
Housing inventory
12.3% more homes to choose from
Mortgage rates
2.95% interest for 30-year mortgage data (October 2020)
Bankrate data (December 2020)

If you're interested in buying a home, the first step in the home buying journey is getting preapproved by a licensed lender. Even if you’re already pre-approved, shopping around for lower rates can pay dividends over the life of the loan.

You can fill out the form below to be instantly matched with a licensed lender who knows the area and can guide you through the process.

Get Pre-approved Today!

Get matched with a lender who can tell you how much house you can afford. To get started, where do you plan on buying?

Best Time of Year to Buy in New Jersey

Right now, in New Jersey, most houses are listed for sale from April to June. This is fairly typical for the market because of warmer weather and the desire for spring cleaning. However, with most of the buying taking place in those months, you can expect higher competition. This can also lead to buyers paying too much for a house just to secure a deal.

If you are willing to be one of the patient buyers, look into buying a house after June. There are still many sellers listing their homes around this time but not as many buyers. This ultimately leads to youpaying lessfor a home due to a decrease in competition.

As a buyer, you will most likely face no competition during the winter months but that is in response to sellers not listing their houses during this time. On average, there are no more than 20,000 houses listed during November-January.

The Best Places to Buy a Home in New Jersey

Princeton Junction

Princeton Junction is a town in Mercer County that has a population of around 2,427. It’s known for being one of the best places to live in New Jersey because of the nice suburban feel. This town attracts families because of it’s highly-rated public schools and parks.

Monmouth Junction

Monmouth Junction is just outside of New York City, nestled in Middlesex County with a population of 3,534. Most people in this area own their homes and have very high home values. This area is great for families with children of all ages because of its low crime rate.

Glen Ridge

Glen Ridge lies just outside of New York City in Essex County. It has a population of 7,668 and is known for having great coffee shops and parks. This area is great for those that commute to the city for work. Glen Ridge is known for its vintage homes and gaslit streets.

Princeton Meadows

Princeton Meadows is another great city in Middlesex County. It has a population of 13,692 and attracts young professionals and families. The cost of living is slightly lower than in other cities but most citizens own their homes.


Beckett has a population of 4,887 and is located in Gloucester County. It’s great for those that love to live a quiet lifestyle. They have low crime rates and the area is overall very up to date. The houses are fairly priced and are some of the most affordable in the area.

4 Ways to Get a Great Deal on a Home in New Jersey

Find a Great New Jersey Real Estate Agent

An experienced, local buyer’s agent is going to help you get the best deal on your new home. It’s strongly recommended that buyers don’t attempt to do this process alone. There are many steps in the home buying process and incorrectly doing one can cause legal or financial problems.

Assess Your Needs and Lay Out Your Goals

Work with your agent to determine what you want in a house. Are you looking for a two-story house with four bedrooms? Or do you want something small and easy to maintain? You want to also be realistic with what you can afford. House hunting is exciting but being underwater with your mortgage is not. Being specific on property size and budget is going to help your agent find your dream home.

Find a Lender and Secure Financing

Unless you plan to buy your home with cash, you'll need to apply for a mortgage. For most home buyers in New Jersey, interest rates are among the biggest factors when choosing a lender. Doing a little upfront research and comparing options to find the best rates could save you tens of thousands of dollars over the life of your loan.

For example, in New Jersey a typical house is worth $364,000. Assuming a 20% down payment, if you took out a 30-year mortgage for 3.5%, your monthly payment would be $1,299. But if you shopped around and found a 3% mortgage, your monthly payment would drop to about $1,228.

Getting a mortgage is a big decision – and it pays to shop around! Keep shopping until you find a lender with competitive rates who also understands your goals. Don’t get pressured into taking on a bigger loan than you’re comfortable with – work with a lender who explains what you’re really signing up for.

It’s easy to start your home buying journey – answer a few questions to get instantly matched with a lender who works in your area.

Negotiate for the Best Possible Price

Once you’ve found your dream home, your agent will assist you in making and submitting an offer. They will also negotiate after a home inspection is completed to make sure you are getting the best deal possible.

If you’re interested in learning more about Clever or speaking with a top-rated buyer’s agent in your area, fill out our online form. A member of our team will be in touch shortly to answer any questions you might and have and connect you with one of our local real estate agent for a no-obligation consultation.

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