In May 2025, Jersey City’s housing market experienced notable growth, with the median home price rising 10.6% year-over-year to $774K, reflecting strong buyer demand and increasing property values. Homes are selling slightly faster than last year, averaging 34 days on the market compared to 35 days in May 2024, indicating steady competition for desirable listings. Sales activity also increased, with 188 homes sold this May versus 160 during the same period last year, highlighting both healthy demand and an active market environment.

Jersey City is somewhat competitive, with homes typically going pending in about 35 days. While not every property sparks bidding wars, some listings do receive multiple offers, especially when priced well or located in desirable neighborhoods. On average, homes sell close to list price, reflecting steady but measured demand. Hot homes—particularly those that are updated or in prime locations—can sell for up to 3% above asking and go under contract in as little as 15 days, showing that quality listings still attract strong buyer interest.

As of June 2025, Jersey City, NJ is considered a buyer’s market, meaning there are more homes available for sale than there are active buyers. This shift gives buyers greater negotiating power, often resulting in longer days on market, more price flexibility, and potential seller concessions. While well-priced and desirable homes can still attract multiple offers, overall competition has eased, allowing buyers more time to evaluate options and secure better terms. Sellers, on the other hand, may need to adjust pricing strategies and ensure strong property presentation to stand out in this supply-heavy environment.