Jersey City, NJ 07302 Real Estate Market Report

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.

Market Metrics

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.

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.

Property Taxes

Liquidity & Velocity

Market Trends & Context

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

Key Findings

1. The primary market value signal is the 1,251,000 median sold price, reflecting recent transaction activity and anchoring local valuations in Jersey City ZIP 07302; with a hot market temperature and price year-over-year trend marked as up, sold prices appear to be supporting modest appreciation.
2. Despite strong sold-price momentum, the market shows slower sales velocity evidenced by a median days on market of 370, which may indicate increased negotiation windows and pricing friction between seller expectations and completed transactions.
3. Price density remains high at a median price per square foot of 944, which, combined with rising rents (median market rent 3,550 and rent year-over-year trend up), supports continued investor and rental demand interest but also raises affordability concerns for owner-occupiers.
4. Interest-rate conditions are a headwind: interest rate pressure is described as elevated and the market context notes that Current 30-year fixed mortgage rates in Jersey City, NJ, are averaging approximately 6.53%, which may cool some buyer segments and lengthen decision timelines even as the market temperature remains hot.

Notable Properties

The following 8 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.