See how home prices changed in every N.J. ZIP code over the past 10 years on this map Updated May 04, 2021; Twitter Share Home values rose an average of about 10% each year between 2000 and 2006. Between 2007 and 2012, home values fell an average of 5% annually. They increased an average of 3% each year between 2013 and 2019 and last year they jumped about 12%, according to data from Jeffrey Otteau, a real estate economist and president of the Otteau Group. What did all the up and down movement mean for homeowners in New Jersey? Big gains for some, even without accounting for the wild market changes in the past four months. (The average New Jersey home price for the first quarter of 2021 was $500,628, or 24% more than the $403,785 for the first quarter of 2020, according to data from New Jersey Realtors.)