New Listing
5
$265,000
58-66 S 2nd St
Elizabeth, NJ 07206
2 bd1 ba
Condo3,485 sqft lot
View photos & details
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Sarah Mitchell
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Compass Real Estate · Elizabeth, NJ
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Elizabeth, NJ(512) 555-0184TX License #0512847
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Elizabeth, NJ Housing Market
Seller's market+0.9% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Elizabeth, NJ is worth $548,920, rose 0.9% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $662,500, +4.3% year over year (through May 2026). With 3.4 months of supply and homes going under contract in about 29 days, Elizabeth is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $548,920 home is about $2,930/mo in principal and interest.
Key numbers for Elizabeth, NJ
Typical home value
$548,920
+0.9% in 12 months
Zillow, August 2026
Typical asking rent
$2,243/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$662,500
+4.3% year over year
Redfin, through May 2026
Days on market
29
Average pace
Redfin, through May 2026
Active listings
144
3.4 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$63,874
Home costs 8.6x income
U.S. Census ACS, 2023
Sale-to-list ratio
101.8%
Selling above asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Elizabeth a buyer's or seller's market?
Seller's market3.4 months of supply29 days on market101.8% of asking
Elizabeth, NJ is a seller's market, based on 3.4 months of supply and homes selling in about 29 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Elizabeth housing market data show?
Every row below is Redfin's final published month for Elizabeth, NJ. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $662,500 |
| Median list price | $669,500 |
| Year-over-year price change | +4.3% |
| Median price per sq ft | $322/sq ft |
| Median days on market | 29 days |
| Active inventory | 144 listings |
| Months of supply | 3.4 months |
| Sale-to-list price ratio | 101.8% |
| Homes sold (that month) | 42 |
| New listings (that month) | 62 |
| Listings with a price cut | 9.7% |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Elizabeth is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Elizabeth is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Elizabeth home prices moved?
Over the last three years the median sale price in Elizabeth, NJ rose 35.2%, from $489,950 to $662,500. The live Zillow value series has rose 0.9% in the last 12 months, which is the more current read now that Redfin's series has stopped. 9.7% of Elizabeth listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 3.4 months while the sale-to-list ratio slips below its current 101.8%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Elizabeth?
Priced off the typical home value of $548,920 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $109,784 | $439,136 | $2,930/mo |
| 5% | $27,446 | $521,474 | $3,480/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $2,930, that implies roughly $125,590 a year before you add taxes and insurance. The median household in Elizabeth earns $63,874, about $61,716 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 8.6x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Elizabeth in the next 12 months?
Tell us your timeline. We send the Elizabeth market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Elizabeth?
Typical asking rent in Elizabeth, NJ is $2,243/mo, against a typical home value of $548,920. That is a price-to-rent ratio of 20.4x, which means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Compared head to head, 20% down puts principal and interest at $2,930 a month — $687 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Elizabeth?
Active listings in Elizabeth, NJ went from 129 in May 2025 to 144 in May 2026, a +11.6% change. Rising inventory is the single most useful leading indicator for buyers: more choice, longer marketing times, and more sellers willing to negotiate before price cuts show up in the median.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 132 | 44 |
| July 2025 | 137 | 54 |
| August 2025 | 131 | 52 |
| September 2025 | 136 | 55 |
| October 2025 | 139 | 58 |
| November 2025 | 124 | 35 |
| December 2025 | 95 | 23 |
| January 2026 | 128 | 66 |
| February 2026 | 138 | 54 |
| March 2026 | 174 | 92 |
| April 2026 | 143 | 49 |
| May 2026 | 144 | 62 |
Redfin, through May 2026
How does Elizabeth compare to New Jersey and the U.S.?
Elizabeth homes sell for $662,500 — 14% above the New Jersey median of $579,900. Against the national median of $410,700, Elizabeth runs 61% higher. Year-over-year, Elizabeth moved +4.3% against New Jersey's +3.7% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Elizabeth, NJ | $662,500 | +4.3% | 29 days |
| New Jersey statewide | $579,900 | +3.7% | 35 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Elizabeth
What buyers should watch
- Months of supply, currently 3.4. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 9.7%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $549 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $548,920 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Elizabeth listing goes under contract in 29 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 101.8% of asking. Price at the number you want and let competition do the rest.
- In the last published month Elizabeth added 62 new listings against 42 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +0.9% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Elizabeth varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Elizabeth
There are currently 144 homes listed for sale in Elizabeth, New Jersey. The median listing price is $670K. Featured listings range from $265,000 to $1,150,000.
New Listing
17
$329,000
660-672 N Broad St Unit 8
Elizabeth, NJ 07208
2 bd2 ba
Condo7,405 sqft lot
View photos & details
New Listing
24
$375,000
349-353 W Grand St Unit 206
Elizabeth, NJ 07202
3 bd2 ba
Condo2,614 sqft lot
Romina Scandroglio · KELLER WILLIAMS METROPOLITAN
View photos & details
New Listing
28
$400,000
838 Rebecca Pl
Elizabeth, NJ 07201
3 bd2 ba1,461 sqft$274/ft²
House3,049 sqft lot
View photos & details
New Listing
45
$475,000
136 Smith St
Elizabeth, NJ 07201
3 bd3 ba
House3,049 sqft lot
View photos & details
New Listing
37
$675,000
216 Delaware St
Elizabeth, NJ 07206
6 bd2 ba
Multi-family2,614 sqft lot
View photos & details
New Listing
27
$744,999
1417 Concord Pl
Elizabeth, NJ 07208
7 bd3 ba19,998 sqft$37/ft²
Multi-family3,920 sqft lot
Vera Luna Victoria · SOCIETY REAL ESTATE
View photos & details
New Listing
27
$844,900
752-754 Eaton St
Elizabeth, NJ 07202
6 bd4 ba
Multi-family4,356 sqft lot
View photos & details
New Listing
4
$869,000
464 Walnut St
Elizabeth, NJ 07201
8 bd5 ba19,998 sqft$43/ft²
Multi-family11,326 sqft lot
View photos & details
New Listing
30
$888,888
119 Clark Pl
Elizabeth, NJ 07206
10 bd5 ba3,600 sqft$247/ft²
Multi-family3,049 sqft lot
View photos & details
New Listing
26
$899,000
558 Broadway
Elizabeth, NJ 07206
6 bd4 ba
Multi-family2,614 sqft lot
View photos & details
New Listing
36
$1,150,000
117-119 Stiles St
Elizabeth, NJ 07208
8 bd5 ba3,960 sqft$290/ft²
Multi-family5,663 sqft lot
View photos & details
Looking to buy in Elizabeth?
Get connected with a local real estate expert — free, no obligation.
Active listings
144
Homes on market
Median list price
$670K
Avg. days on market
29
Days until sale
New this week
62
Newly listed
Price drops:9.7%of listings
Sale-to-list:101.8%
How much do homes cost in Elizabeth by property type?
How the Elizabeth, NJ market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $600,000 | $305/sq ft | 21 | 29 days |
| Condo / co-op | $200,000 | $357/sq ft | 1 | 25 days |
| Townhouse | $665,000 | $340/sq ft | 1 | 200 days |
Who lives in Elizabeth?
American Community Survey estimates for Elizabeth. U.S. Census ACS, 2023
Population
135,887
Households
45,932
Median income
$63,874/yr
Median age
35.8 years
Owner-occupied
25.4%
Median home value
$393,500
Median gross rent
$1,463/mo
Mean commute
27 min
25.4% of occupied homes in Elizabeth are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $393,500 against Zillow's $548,920 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $1,463/mo, below Zillow's $2,243/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Elizabeth?
38 schools tracked · 27,575 students
The largest public schools serving Elizabeth, NJ by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
John E. Dwyer Technology Academy
Grades 9-12 · 1,404 students
Admiral William F. Halsey Jr. Health & Public Safety Academy
Grades 9-12 · 1,291 students
Elizabeth High School - Frank J Cicarell Academy
Grades 9-12 · 1,291 students
Thomas Jefferson Arts Academy
Grades 9-12 · 1,156 students
Terence C. Reilly School No 7
Grades 2-8 · 1,147 students
William F. Halloran School No.22
Grades 2-8 · 1,145 students
Alexander Hamilton Preparatory Academy
Grades 9-12 · 1,022 students
Toussaint L'Ouverture-Marquis de Lafayette School No. 6
Grades PK-8 · 1,015 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Elizabeth, NJ?
Ordered by distance from Elizabeth, not by size. Compare Elizabeth side by side with any of them.
Which ZIP codes are in Elizabeth?
These are the ZIP codes we see on active Elizabeth listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Elizabeth housing market FAQ
Is Elizabeth a buyer's or seller's market?
Elizabeth, NJ is currently a seller's market. That read comes from 3.4 months of supply, homes going under contract in about 29 days, and sellers getting 101.8% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Elizabeth?
The typical home in Elizabeth, NJ is worth $548,920 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $662,500, about $322 per square foot.
Is Elizabeth cheaper than the rest of New Jersey?
Elizabeth's median sale price of $662,500 is 14% higher than the New Jersey statewide median of $579,900, and 61% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Elizabeth?
Homes in Elizabeth, NJ spent a median of 29 days on market before going under contract, versus 35 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Elizabeth?
At the current 30-year fixed rate of 7.03%, 20% down on a $548,920 home is about $2,930 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $125,590 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $63,874.
Are home prices rising in Elizabeth?
The typical home value in Elizabeth, NJ rose 0.9% over the last 12 months, from $544,092 to $548,920 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Elizabeth?
Elizabeth ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Elizabeth?
That depends on your timeline, not on a headline. What the data says today: Elizabeth, NJ is a seller's market with 3.4 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 20.4x means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Properties Incorporated publishes the data; it does not give financial advice.
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