What is the state of the real estate market in New Jersey?

Now is a great time to get invested in the state of the real estate market in New Jersey. For a number of reasons, this market has been growing over the years, and it offers a lot of great opportunities.

New Jersey became a part of the United States in 1787, making it one of the first states in the union and also one of the most popular from the very beginning. Over the years, the Garden State has only become more populated, and today it holds more than nine million people in it.

New Jersey holds a special place in American history as it was a part of the Revolutionary War, the Civil War, and the Industrial Revolution, Civil Rights movement, and so many other major moments in United States history. Today, a lot of people think of Jersey as simply the state that sits right next to New York, but there is so much more to Jersey.

There are so many great locations, parks, restaurants, businesses, and homes in New Jersey that it’s no surprise so many people are moving there year after year. It is always one of the most sought-after locations for people who are looking to move.

The real estate market in New Jersey is a subject of great attention and always has been. These days, New Jersey is booming and thriving and the market is full of life. If you are thinking of moving to New Jersey, there are certain things you should keep in mind. Buying into the real estate market is a major investment and you should know what you’re getting yourself into.

Our guide will teach you what you need to know about the present and future of the New Jersey real estate market. If you are thinking of planting your flag in New Jersey and buying a home, renting an apartment, finding a luxury penthouse, townhouse, or condo, you should pay attention to the current state of the market.

How much does it cost to buy a home in New Jersey?

If you are thinking of moving to New Jersey, you should be prepared to spend a good amount of money to live there. The market in Jersey is always pretty popular but lately it’s been growing more and more, year after year.

PropertyShark and the NJMLS estimates that the median sale price in New Jersey during Q1 2023 is $620,000, which is a four percent increase from last year. In fact, over the last five years, the New Jersey real estate market has climbed steadily. Of all the cities in the state, the ones that are growing the fastest in terms of pricing are Fort Lee, Sicklerville, East Orange, Ocean City, and North Bergen.

As you can see, buying a home in New Jersey isn’t cheap, although it isn’t as expensive as buying in New York, Connecticut and other states in that part of the country. That is one of the most appealing features of Jersey real estate, especially thanks to its proximity to New York City and easy transportation access to Manhattan by train or bus. And it’s also one of the reasons why so many people are always tuned in and paying attention to New Jersey real estate.

How is the New Jersey real estate market? 

Because of the success that seems to always find it, the New Jersey real estate market is doing quite well. In fact, it is doing better than many other neighboring states.

Houses on the market in New Jersey are usually sold about 80 days after their listing, which shows the great interest in this part of the country. There are also a smaller number of listing on the market, about 12% less than last year at the same period, driving more competition and bidding wars.  

The good news is that the prices aren’t increasing so much that other people aren’t able to move to New Jersey. This suggests that the market will only improve over the next few years because the pricing isn’t too astronomical to invite fresh New Jersey residents from all over the country. 

The increase in pricing shows that demand to move to New Jersey is still strong, and the market is doing very well.  


Over the last few years, New Jersey has become one of the most popular and sought-after real estate markets in the country and there is evidence to suggest that will continue in the years ahead. 

The market has been steadily climbing to new heights over the last five years, even with the COVID pandemic hobbling the industry and shutting down sales in many ways. As things become more normal, the economy improves, and New Jersey continues to be a popular state in America, you can expect to see the real estate business in New Jersey keep flourishing.

This means that now is a great time to get into New Jersey real estate. Whether you want to move to Jersey or buy a place as an investment, the present is the perfect time to get involved. If you are ready to do that, contact us at BARNES New York. We know the ins and outs of all real estate markets, including the luxury housing market in New Jersey. We are ready to help you take the next steps and find your new home.  

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What kind of housing is available in New Jersey? 

When most people talk about the state of New Jersey, they usually refer to it as New York’s sibling, a small state that mostly has value because it is so close to the Empire State. But that couldn’t be further from the truth, especially when it comes to housing in New Jersey.

The truth is that New Jersey has a slew of great features, locations, businesses, and stunning vistas that can only be found there. It’s so much more than a state that is just close to New York, it is a great location to start a company, settle down, create a family, and enjoy your golden years of retirement. 

Since its admittance to the union back in the 1700s, New Jersey has actually been one of the most popular states. Millions of people move there every single year, looking to make a new start in a state that has brought success to so many others. That means that the real estate market in Jersey is always bustling and offers excellent business opportunities.  

Because of all that attention and the way that people seek out New Jersey, it is sometimes hard to find a good place to live when making the move. That is why you should know a few things about the state before you pack up and plant your flag there. You should be aware of what housing and properties are available for you and your family, and you should also be aware of the prices for them. 

Let’s take a deeper look at all that New Jersey has to offer and give you a good idea of where you will be living when you make the move to the Garden State.  

Why move to New Jersey? 

There are in fact so many reasons to move to New Jersey. Beyond its premiere location on the eastern seaboard of the United States, Jersey is also a wonderful place to raise a family. It is home to a great number of employers and businesses, and also offers a lot of ways for people to start their own businesses.  

New Jersey is also gorgeous with many great state parks, offering greenery and many outdoor activities.

But if you are planning to move to Jersey, you need to know what sort of residence you will buy. And when it comes to that, there are quite a few options.  

What Housing & Properties can you buy in New Jersey? 

You will have quite a selection to choose from when you are looking for housing in New Jersey depending on the sort of homes you’ll be living in. Let’s take a deeper look at some of the most popular places that people buy when they are making the move to New Jersey. 


Many New Jersey residents make their homes in condos. For years now, this has been one of the most ideal ways to live a more urban lifestyle. According to Redfin, there are many condos in the state that are selling for upwards of $2 million, although you can also find a condo that will sell lower than that, with a median sales price of $639,500. 

Condos are a great choice for smaller families or up-and-coming single people. New Jersey’s condos are also very attractive for those in various business sectors, including the blossoming tech industry that is high-paying and often requires a commute into the city. Because of that, you will find that many of the best condos in the state are in the biggest cities, such as Union City, Jersey City, Hoboken, and others.  


A townhouse is a good choice for any family that is looking for housing in New Jersey. Much like an apartment, they are usually built within a complex filled with other townhouses. But they are high quality and large and many people spend decades living in a townhouse. 

Townhouses are more expensive than apartments. You can find a good number of townhouses in New Jersey that are selling for close to $300,000. The average price for most listed New Jersey townhouses are typically about $320,000. This is a sizable investment but it’s also the sort of residence that you can spend years and years in. 

Gated Communities 

Why would you want to live in a gated community in New Jersey? For a number of reasons but mostly because the homes in these communities are expertly made, gorgeous to look at, and offer a quality living environment. Gated communities are just that: communities that remain behind stable walls. For that sort of security and stunning workmanship, you will usually be paying over $1 million for a spot inside a gated community. But with that price, you will get a lot of great value and very modern properties.

Single Family House 

According to 24/7 Wall Street, the value of a typical single-family home in New Jersey is about $500,000, which is towards the high end when compared to other states in the union.  

With a real estate market that is on the grow and always busy, you will have plenty of homes to choose from when moving to New Jersey. While the price might be higher than it is in other parts of the country, it’s a very smart investment because New Jersey is such a popular and promising state for anyone wanting to stay close to the city while enjoying a less dense environement.


New Jersey has remained one of the most beloved and popular states in America for decades now – and for good reason. If you and your family are ready to make a home for yourself in the Garden State, you should contact the experts at BARNES New York. We have long studied real estate markets all over the tri-state area and we are ready and eager to help find a place in New Jersey that is gorgeous, comfortable, and completely yours.  

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