New Jersey Real Estate Market in 2021: Forecasts + Trends

Clever Real Estate

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Clever Real Estate

July 19th, 2021
Updated July 19th, 2021

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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

New Jersey real estate trends (July 2021)

How is the real estate market in New Jersey?
🏠 Average home value: $411,162
📈 1.75% home value increase month over month
💰 Median sale price: $396,000
⏳ 47 days on the market
🔑 Homes on the market: 23,666
📆 1.1 months of housing inventory
🏦 30-year mortgage rate: 3.03%
💵 Average income: $82,545
State of the market: A-
Home values in New Jersey are appreciating at a very healthy rate, so buyers are looking to invest in properties. The fact that listings are selling only a month after hitting the market— despite a massive number of listings — suggests that homes that are fairly priced are grabbing buyers' attention.
*Data last updated July 2021

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% or $3K in listing fees. Eligible buyers get 0.5% 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 15.5 days faster than the annual average
💰 Homes are selling for $3,099 more than the annual average
💸 Average listing commission: 2.62%
💸 Average buyer's commission: 2.56%

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 $3,000 or 1%. On average, Clever sellers save $9,000 on commission!

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Buying a home in New Jersey

How much home you can buy with $300,000 in...
🏠 Trenton: 1,568 sq ft
🏡 Vineland: 2,452 sq ft
🏡 Atlantic City: 2,577 sq ft
🏠 Ocean City: 1,349 sq ft

Investing in New Jersey real estate

Best of New Jersey

Each month, we compare cities in New Jersey based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.

Most Affordable Cities in New Jersey
1. Vineland-Bridgeton
2. Trenton-Princeton
3. Atlantic City-Hammonton

Ready to buy a home in New Jersey? Eligible buyers get cash back with Clever!

Worst of New Jersey

Each month, we compare cities in New Jersey based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.

Least Affordable Cities in New Jersey
1. Newark
2. Patterson
3. Ocean City

New Jersey resources

👋 Next Steps: Talk to an expert!

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Our fully-licensed concierge team is standing by to answer questions and provide free, objective advice on getting the best outcome with your sale or purchase.

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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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Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, S&P Global, 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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