Jersey City, NJ 07302 Real Estate Market Report

ZIP Code: 07302
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Jersey City stands at $1,289,000, indicating a stable market environment despite some fluctuations in year-over-year pricing trends. The market has remained relatively flat, suggesting that while there is some upward momentum in recent transactions, overall price stability prevails. The 336 days on market reflects a slower sales velocity, which may indicate a cautious buyer sentiment amidst elevated interest rate pressure.

Current market conditions show elevated inventory levels relative to sales activity, contributing to a neutral market temperature. This scenario suggests that while there is demand, the excess supply may be creating pricing friction, impacting the speed of transactions. Additionally, the median market rent is reported at $3,860, indicating modest rental appreciation, particularly near transit hubs, which could attract potential buyers looking for investment opportunities.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Jersey City market average around 6.38% as of late March 2026, which is 0.27% lower than the 6.65% average from one year prior.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $1,289,000 reflects a stable market with potential for slight upward movement.

2. With 336 days on market, the sales velocity appears slower, indicating cautious buyer sentiment amidst elevated interest rate pressure.

3. The market temperature is currently neutral, suggesting balanced conditions between supply and demand.

4. Elevated inventory levels relative to sales activity may lead to pricing friction in the market.

5. The median market rent of $3,860 shows modest appreciation, driven by demand near transit hubs.

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Notable Properties

The following 6 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.