Jersey City, NJ 07302 Real Estate Market Report

ZIP Code: 07302
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Jersey City, NJ, are averaging 6.3% as of May 2026, which is 0.4% higher than the 5.9% market average observed in February 2026.

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 primary indicator of recent market value is the median sold price: 1,334,000, which—when viewed alongside the median price per square foot of 975—signals a premium per-square-foot valuation for SFR and condominium transactions in this ZIP code; sellers should align pricing to these realized transaction levels rather than aspirational listing prices. up

2. Liquidity appears muted: the median days on market is 339, which suggests slower sales velocity and pricing friction; combined with elevated inventory relative to sales activity, sellers may need to factor longer marketing windows or stronger concessions into negotiation strategies, and buyers can expect more time for due diligence. moderate

3. Market dynamics remain competitive with a hot market temperature and a price year-over-year trend of up, but interest rate context is relevant: Current 30-year fixed mortgage rates in Jersey City, NJ, are averaging 6.3% as of May 2026, which is 0.4% higher than the 5.9% market average observed in February 2026; the combination of a hot market and moderate interest rate pressure suggests time-sensitive buyer demand but heightened financing scrutiny. hot

4. Rental market signals are cooling: the median market rent is 3,550 and rent year-over-year trend is down, which may temper investor expectations for near-term rental growth and argues for underwriting conservatively on rental income assumptions for buy-to-rent strategies. down

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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.

Jersey City, NJ 07302 Real Estate Market Report

ZIP Code: 07302
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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 Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Jersey City, NJ, are averaging 6.3% as of May 2026, which is 0.4% higher than the 5.9% market average observed in February 2026.

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. $852,000 median sold price establishes the primary market value indicator and suggests recent transactions are supporting higher price points; with the up price year-over-year trend and a hot market temperature, sellers can justify targeting above-average asks while remaining mindful of transaction pacing.

2. $760,000 median listing price is notably lower than the median sold price, which may indicate strong seller capture of value at close or competitive bidding dynamics; agents should emphasize recent comparable solds when advising pricing strategy to avoid leaving equity on the table.

3. 259 median days on market points to slower sales velocity despite hot market signals, suggesting pricing friction or a mismatch between seller expectations and buyer willingness; this appears to limit liquidity and suggests staged pricing reductions or targeted marketing may be necessary to accelerate closings.

4. $3,800 median market rent combined with the down rent year-over-year trend and moderate interest rate pressure (current average 30-year fixed rate ~6.3%, ~0.4% above a recent benchmark) suggests buyer urgency influenced by rates but cooling rental upside, so investor clients should re-evaluate cashflow assumptions and underwrite conservatively.

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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.