Jersey City Homes for Sale

In November 2024, Jersey City home prices experienced a significant rise, increasing by 13.8% compared to the previous year, with a median sale price of $740K. While homes are spending slightly longer on the market—56 days on average compared to 44 days last year—the market remains active and competitive. The number of homes sold also increased, with 157 transactions in November 2024, up from 134 in the same month last year. This upward trend in both pricing and sales activity highlights the growing demand and investment potential in Jersey City, making it an attractive option for both buyers and sellers.

Jersey City is moderately competitive, with homes typically selling within 43 days. According to the Redfin Compete Score™, some properties receive multiple offers, reflecting steady demand in the area. On average, homes sell for around the asking price and go under contract in about 43 days. However, "hot homes" — those in high demand — can sell for approximately 2% above the list price and go pending in as little as 20 days. This market dynamic offers opportunities for both buyers and sellers: buyers should be prepared to act quickly on popular listings, while sellers can benefit from pricing their homes strategically to attract competitive offers.

In November 2024, Jersey City, NJ, was a balanced market, indicating that the supply of homes matched the demand. This equilibrium provides a fair playing field for both buyers and sellers, with neither having a distinct advantage. For buyers, it means less intense competition, offering more time to evaluate options, while sellers can expect consistent interest without needing significant price reductions. This stability makes Jersey City an appealing option for those looking to enter the real estate market or make a move.