How New Jersey Buyers Can Gain an Edge This October

If you are thinking about buying a home in New Jersey this October, you may be in a favorable position. Many buyers assume spring and summer are the best seasons, but current data shows that the market is changing. October can offer opportunities if you understand how to use them.

Current Market Landscape in New Jersey

• According to Redfin data for September 2025, the median sale price in New Jersey was about $563,900, an increase of 4.8 percent compared with one year earlier.

• The number of homes for sale rose to around 31,784, up about 11 percent year over year.

• The state currently has about three months of supply, which is still below the five to six months considered a balanced market.

• Zillow reports that the average home value in New Jersey was about $564,432, up 3.2 percent from last year.

• In northern New Jersey, homes are averaging 30 to 34 days on market before going under contract.

• Market analysts describe the state as a seller’s market that is beginning to balance, giving buyers more room to negotiate than in previous years.

Why October Can Be a Smart Month for Buyers

1. More Inventory and Choice
With listings up more than 11 percent compared with last year, buyers have more options. This allows you to compare properties carefully instead of rushing to make an offer.

2. Lower Competition
According to the National Association of Realtors, buyer activity typically drops by about 30 percent in October compared with the spring peak. Less competition often means fewer bidding wars and better chances of getting your offer accepted.

3. More Time to Decide
With homes spending a little longer on the market, buyers can take the time to schedule inspections and evaluate homes more thoroughly.

4. Better Negotiating Power
A slightly slower market gives you the ability to ask for concessions such as help with closing costs or needed repairs. Sellers who have been on the market since summer are often more open to negotiation.

5. Honest View of the Property
Seeing a home in October shows how it performs in cooler weather. You can test the heating system, check for drafts, and see how the yard handles fall rain. These details are harder to evaluate in the warmer months.

6. Timing and Financial Advantages
Buying in October can allow you to close before the end of the year. This may help with tax deductions and makes moving easier before the busy holiday season.

What Buyers Should Keep in Mind

• Get fully preapproved for a mortgage before you start shopping. This makes your offer stronger and speeds up the process.

• Focus on the fundamentals of the home such as location, structure, and maintenance rather than cosmetic upgrades.

• Review the pricing history of each listing. Homes that have been on the market for a few months may have more room for negotiation.

• Consider regional differences. Areas with strong school districts or proximity to New York City may still move quickly.

• Evaluate affordability. Based on current data, a buyer purchasing a median-priced home in New Jersey at around $584,000 with a 20 percent down payment would need an estimated annual income of about $175,000 to stay within typical mortgage guidelines.

• Do not wait too long. While October offers more breathing room, well-priced homes in good condition still sell fast.

Conclusion

For many New Jersey buyers, October presents a real opportunity. Inventory is higher, competition has eased, and negotiation flexibility is improving. Although it remains a seller-leaning market overall, informed and prepared buyers can find strong value this fall. If you are planning to purchase a home soon, October could be the right time to make your move.