Where New Jersey home prices increased the most in 2024

🏠 Median home prices in New Jersey continue to jump

🏠 Nearly every county saw increases greater than 10%

🏠 What do experts predict for 2025?

Great news for New Jersey homeowners: the values of their homes are going up and up.

The median price of a home sold in New Jersey in 2024 was $560,000, according to statewide data compiled by New Jersey Realtors.

That's an 11.3% increase from 2023 when the median home price was $503,000. Most counties in New Jersey had double-digit increases. It's a significant rise from the 6.3% increase the state had from 2022 to 2023.

However, fewer homes were sold in New Jersey last year when compared to 2023.

There were 56,541 closed sales in New Jersey in 2024, a 0.8% decrease from 56,990 in 2023. However, that's more stable than the steep 23.2% drop in sales from 2022 to 2023.

Scroll down to see the New Jersey counties that had the greatest increase in median home prices.

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Will the New Jersey housing market crash in 2025?

In 2024, real estate data provider ATTOM predicted a housing market crash in New Jersey.

The report said that Essex County, which saw a nearly 15% increase in its median home prices, was among the counties most at risk.

SEE ALSO: 5 NJ ZIP codes top $2M in home prices

For 2025, realtor.com predicts that home prices will continue to go up nationwide at a rate of 3.7%.

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