New Jersey Real Estate Market in 2022: Forecasts + Trends

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By Clever Real Estate Updated September 1, 2023

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New Jersey real estate trends

Real estate trends in New Jersey | Sellers | Buyers | Investors | The best and worst of New Jersey | New Jersey resources

Though more than eight million viewers around the world have tuned into MTV's Jersey Shore, they've only seen a glimpse of all the Garden State has to offer.

Beyond its storied beaches, New Jersey features plenty of charming communities tucked among its lakes and rolling hills. Its biggest cities include Newark, Jersey City, and Paterson.

Residents take pride in the state's abundant Italian delis, fresh local produce, and playfully ribbing out of state visitors. The state's central location makes it easy for residents to commute by train to nearby New York City and Philadelphia.

If you're thinking of buying or selling in New Jersey, these New Jersey housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1.5% or $3K in listing fees. Eligible buyers get cash back after closing. Find out how much you can save with Clever today!

Selling a home in New Jersey

New Jersey real estate market forecast for sellers
⏰ Homes are selling 11 days slower than the annual average 💰 Homes are selling for $22,171 more than the annual average
💸 Average listing commission: 2.63% 💸 Average buyer's commission: 2.50%
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How to sell a home in New Jersey

Cost to sell a home in New Jersey

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List with the best agents in your area for just 1.5%. On average, Clever sellers save $7,000 on commission!

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Buying a home in New Jersey

How much home you can buy with $300,000 in...
🏠 Trenton: #DIV/0! sq ft 🏡 Vineland: 1,807 sq ft
🏡 Atlantic City: 1,456 sq ft 🏠 Ocean City: 488 sq ft
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Investing in New Jersey real estate

Best of New Jersey

Each month, we compare locations in New Jersey based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.

Happiest Counties in New Jersey
1. Morris County
2. Union County
3. Sussex County
4. Hunterdon County
5. Somerset County
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Ready to buy a home in New Jersey? Eligible buyers get cash back with Clever!

Worst of New Jersey

Each month, we compare locations in New Jersey based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.

Least Happy Counties in New Jersey
1. Cumberland County
2. Atlantic County
3. Salem County
4. Essex County
5. Camden County
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New Jersey resources

👋 Next Steps: Talk to an expert!

If you're weighing your options for buying or selling a house, Clever can help!

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Give us a call at 1-833-2-CLEVER or enter your info below. Our concierge team will be in touch shortly to help.

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Frequently asked questions about New Jersey real estate

Is it a buyer's or seller's market in New Jersey?

It is currently a seller's market in New Jersey. Although listing prices are low right now, the increasing demand is causing homes to sell quickly. While that may be the case, each city and town is different, so it’s best to check in with a top real estate agent to understand your local trends.

Is New Jersey a good state to invest in real estate?

Real estate is always a good investment, but it’s even better in a populous state like New Jersey. Bigger cities like Trenton or areas in the New York City metro are perfect because the demand for housing is always high. However, investing requires proper preparation for it to pay off, such as finding the best neighborhoods to buy in and understanding what locals look for in a place to live. Learn more in our guide to real estate investing.

Is it a good time to buy a house in New Jersey?

It might be a good time to buy a house in New Jersey right now, as homes are selling for less than they’re worth. To find out all your options, work with one of the top real estate agents in the area for help.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

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