Jersey City, NJ 07306 Real Estate Market Report

ZIP Code: 07306
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, NJ (ZIP: 07306) stands at $794,000, reflecting a stable market despite some fluctuations in demand. The neighborhood has decreased 8% since 2022, indicating a slight softening in market conditions. The current market environment is characterized by elevated inventory levels, suggesting that supply is outpacing demand. This could lead to increased competition among sellers, potentially impacting future pricing strategies.

Transaction activity appears moderate, with properties taking a median of 252 days on market. This extended duration may indicate slower sales velocity, which, combined with elevated interest rate pressure, is affecting buyer affordability. The median listing price is $645,000, which creates a notable gap compared to the median sold price, pointing to potential pricing friction as sellers adjust expectations to align with market realities.

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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 around 6.38% are 0.27% lower than the average rate of 6.65% seen one year ago.

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 $794,000 indicates a stable market, yet reflects an 8% decrease since 2022.

2. With a median days on market of 252, properties are experiencing slower sales velocity, suggesting a need for strategic pricing adjustments.

3. The median listing price of $645,000 shows a significant gap compared to the sold price, indicating pricing friction in the market.

4. Rental demand remains strong with a median market rent of $2,691.5, although the year-over-year trend is down, reflecting potential shifts in tenant preferences.

5. The market temperature is currently neutral, suggesting a balanced environment where supply and demand are relatively aligned.

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Notable Properties

The following 7 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.