Published October 18, 2026 in Market Update

Downtown JC still moved fast, even with rates above 7%

By Janine Berger

Real estate, Downtown Jersey City

Rates crossed 7% again, according to Realtor.com. That is the headline everyone sees. But the Real Estate Data Aggregator counted 167 homes sold in ZIP 07302 in the three months ending August 31, 2026. The median sale price hit $999,900, up 11.1% from the same three months in 2025. Rates did not stop this market.

That 27.9% figure is up 8 points from a year before, per the Real Estate Data Aggregator. So the share of homes moving fast is actually growing, not shrinking. That matters if you are pricing a listing right now.

Above list, faster, and prices still climbing in 07302

The average home in 07302 sold at 100.3% of list price, per the Real Estate Data Aggregator. That means sellers are, on average, getting every dollar they asked for and then some. Buyers are not sitting on the sidelines waiting for rates to drop.

Realtor.com also reported that 10.3% of listings in the New York-Newark-Jersey City metro took a price cut. That is real. Not every home here sells fast or above list. The ones that do are priced right and show well. The ones that do not are the ones that linger.

ZIP 07310 tells a different story

The Real Estate Data Aggregator counted only 15 homes sold in ZIP 07310 in the same three months. That is a small pool. Months of supply sat at 7.8, up 2.2 months from a year before. Only 7.1% of homes went under contract within two weeks. That is a slower market than 07302, by a lot.

One thing 07310 did do: days on market dropped 52 days shorter than a year before, per the Real Estate Data Aggregator. The median is now 32 days. That is a big shift. But with only 15 sales, one or two unusual listings can move that number. Take it as a signal, not a guarantee.

The rate picture, and what it actually means here

Realtor.com reported that mortgage rates topped 7% for the first time since January 2025. CNBC reported that Fannie Mae forecasts the 30-year fixed rate at 7.5% for all of 2027. That is the environment buyers are working in.

And yet the Real Estate Data Aggregator shows the New York-Newark-Jersey City metro median home price at $742,000, per Realtor.com, while Downtown JC's 07302 median came in at $999,900. People are still buying here, at these rates, at these prices. Demand has not evaporated.

The bigger picture from the Federal Housing Finance Agency: U.S. house prices rose 2.6% from July 2025 to July 2026, and 0.3% just from June to July, seasonally adjusted. Nationally, prices are still moving up, just slowly. Downtown JC's 11.1% gain in 07302 is well ahead of that national pace.

One more thing worth knowing: these are ZIP code numbers. One block, one building, one floor plan can read very differently from the whole ZIP. The data is the starting point, not the whole answer.