In September 2024, home prices in Jersey City saw a 7.2% decrease compared to the same time last year, with the median price settling at $635,000. Homes in the area are now taking longer to sell, averaging 42 days on the market compared to just 33 days last year, indicating a slight cooling in buyer demand. Additionally, there were 157 homes sold in September, a drop from 169 sales in the previous year. This slowdown in both price growth and sales activity could suggest that buyers have become more cautious, potentially due to economic factors or shifting market conditions.

The Jersey City housing market is moderately competitive, with homes typically selling within 39 days. While many properties sell for around the list price, some attract multiple offers. In particular, highly desirable homes can go for about 2% above the list price and often go pending in just 19 days, highlighting strong interest in certain areas or property types within the market.

Recent data indicates that 3% of homebuyers nationwide are considering relocating to Jersey City from other metropolitan areas. Notably, prospective buyers from Gainesville, Florida, have shown the highest interest in moving to Jersey City, followed by those from San Francisco, California, and Visalia, California. This trend underscores Jersey City's growing appeal to individuals from diverse regions across the United States.