Are home prices in NJ going down?

In May 2024, home prices in New-Jersey were up 12.2% compared to last year , selling for a median price. On average, the number of homes sold was up 0.4% year over year and there were 7,827 homes sold in May this year, up 7,793 homes sold in May last year.

Is now a good time to sell a house in NJ?

Considering the current market conditions, favorable interest rate environment, and outlook for the first half of 2024, now could indeed be a good time to sell your New Jersey house . With high demand, competitive pricing, and favorable financing options, sellers stand to benefit from entering the market at this time.

Is it good to buy a house in NJ now?

The current real estate market conditions in New Jersey are becoming favorable for home buyers . Here's how: Lower Mortgage Rates: The interest rates for home loans have decreased to 7.05%, marking a decline from approximately 8% in the preceding year of 2023.

What is the prediction for real estate in New Jersey?

The runaway housing prices we've seen over the past few years in New Jersey should finally slow down in 2024 , real estate experts say. And the market is expected to normalize. Falling interest rates should lead to more houses being listed for sale, helping prices level out.

Is 2024 a good year to buy a home?

Buying a home this year, particularly in early 2024, might mean you're able to beat the rush, as the market could get more crowded if or when rates drop further . Waiting, however, could give you more options to choose from as supply improves, along with the potential for increased mortgage affordability.

What is the real estate forecast for 2024 in New Jersey?

Continued Growth, But at a Slower Pace: Experts predict that home prices in New Jersey will continue to rise in 2024, but at a slower rate than what we've seen in the past . This is due to a combination of factors, including rising interest rates and a more balanced market with increased buyer options.

Is there a housing shortage in NJ?

New Jersey has a 214,000-unit shortage of affordable rental housing , according to the National Low Income Housing Coalition.

What credit score do you need to buy a house in New Jersey?

The average minimum score for a mortgage is 620 . Depending on the type of loan you are applying for, you may need a higher score, while others have lower requirements.

Is New Jersey real estate a good investment?

JASON: New Jersey is an excellent place for real estate investment ! Thanks to its proximity to major cities it has shown steady growth, with property values appreciating and consistent demand for rental properties.

Why is NJ real estate so expensive?

" Economic vitality, job growth and population influx can drive demand, while supply constraints and low interest rates can amplify the increase in prices." New Jersey ranked behind No. 1 Connecticut, with a 9.56% increase, as well as No. 2 Maine and No.

What is the market prediction for 2024?

As a whole, analysts are optimistic about the outlook for stock prices in 2024. The consensus analyst price target for the S&P 500 is 5,090 , suggesting roughly 8.5% upside from current levels.

Why are NJ homes so expensive?

Why are NJ homes more expensive? New Jersey's higher home prices are driven by two key factors: its proximity to New York City and its population density , which is the highest in the country, according to SmartAsset. The Garden State has two of America's wealthiest counties: Hunterdon and Somerset.

NJ Real Estate - New Jersey Homes For Sale

18,862 results

310 Stockton Ave, Roselle Boro, NJ 07203-2141
SIGNATURE REALTY NJ
$399,999
3 bds
3 ba
-- sqft

- House for sale
Open: Sun 1pm-3pm
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1626 Dumont Terrace, Wall, NJ 07719
EXP REALTY, William R Hagan
$799,000
4 bds
3 ba
2,025 sqft

- House for sale
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27 Ridge Rd, Cedar Grove Twp., NJ 07009-2015
BHHS FOX & ROACH
$669,000
3 bds
2 ba
-- sqft

- House for sale
Open: Sun 1pm-3pm
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95 W Broadway, Salem, NJ 08079
EXP REALTY, LLC
$300,000
6 bds
5 ba
5,203 sqft

- House for sale
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170 N Farview Ave, Paramus, NJ 07652
CHRISTIE'S INTERNATIONAL REAL ESTATE GROUP-HOHOKUS-RIDGEWOOD EAST
$3,795,000
8 bds
7 ba
-- sqft

- House for sale
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105 Lakewood Avenue, Whiting, NJ 08759
CROSSROADS REALTY EXECUTIVE OFFICE, Joseph Ragno
$175,000
4 bds
2 ba
1,300 sqft

- House for sale
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1821 Belvidere Rd, Lopatcong Twp., NJ 08865-2107
COLDWELL BANKER REALTY
$199,900
4 bds
4 ba
-- sqft

- House for sale
55 days on Zillow
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2 Iroquois Ave, Rockaway Twp., NJ 07866-1704
KELLER WILLIAMS REALTY
$539,999
3 bds
3 ba
2,300 sqft

- House for sale
Open: Thu 11am-1pm
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915 W 3rd St, Plainfield City, NJ 07063-1364
PREMIER HOMES
$299,000
5 bds
2 ba
-- sqft

- House for sale
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The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing.Information deemed reliable but not guaranteed.Copyright © 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved.Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisem*nt of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Zillow, Inc. are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.All information deemed reliable but not guaranteed. Last date updated: 2024-02-07 10:04:24 PST Source: New Jersey Multiple Listing, Inc. © 2024 New Jersey Multiple Listing Service Inc. All rights reserved.The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Information is deemed reliable but not guaranteed.The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC All rights reserved The CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting.The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement.Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2024 Bright MLS, Inc. [Click here for more information](/info/mls-disclaimers/#mls_5632)The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

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08610 Homes for Sale$324,440
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NJ Real Estate - New Jersey Homes For Sale | Zillow (2024)

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