HOWARD HANNA New Jersey
Bergen County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
BergenCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
Bergen County's housing market showed no signs of slowing down in June 2026, with 633 single-family homes sold a nearly 14% jump compared to the same month last year. The median sale price climbed to $950,000, up more than 8% year over year, continuing a pattern of steady appreciation that has defined this market for several years running. Perhaps more telling than the price itself is where homes are actually selling: the average sale-to-list ratio hit 106%, meaning buyers are routinely paying above the asking price to win a home In a market where the median list price was $899,000, that gap translates to real money, and it reflects just how competitive conditions remain for anyone trying to buy
Supply is trying to catch up, but it hasn't gotten there yet Sellers added 887 new listings in June about 16% more than a year ago and active inventory now stands at 1,163 homes. That sounds like a lot until you consider that 1,162 homes are already under contract, meaning nearly every available home has a buyer waiting in the wings. Nationally, inventory has been slowly recovering from the historic lows of 2022 and 2023, but Bergen County remains firmly in seller's territory, where demand consistently outpaces supply and homes are moving in a median of just 16 days from listing to contract
For sellers, the message is straightforward: this is still one of the strongest markets in recent memory Pricing your home competitively not necessarily low, but in line with what the market supports is likely to generate multiple offers and a sale price well above your asking price. The combination of strong buyer demand, rising prices, and brisk turnover means well-prepared homes are not sitting around, and sellers who work with an experienced agent to position their home correctly are being rewarded quickly.
Buyers face a tougher road, but the market isn't impossible to navigate with the right approach. Getting fully pre-approved before you start shopping is essential not just pre-qualified, but fully underwritten because when a home hits the market and attracts multiple offers within days, there's no time to scramble It also helps to be realistic about the offer process: in a market where homes routinely sell 6% above asking, budgeting only up to the list price may leave you consistently on the losing end The good news is that more listings are coming to market than a year ago, which means more opportunities are appearing each month and buyers who stay patient, prepared, and flexible are finding ways to succeed.
HOWARD
Bergen County
Recent Sales Trends
Current Market
1,163 HOMES FOR SALE
1,162 HOMES UNDER CONTRACT
$899,000
$22,750,000
16
Bergen County
HOWARD HANNA | RAND REALTY
Bergen County
Bergen County
MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Essex County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
EssexCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
Essex County's housing market remained firmly in seller's territory through June 2026, with strong price growth and fierce competition defining the experience for buyers. The median sale price climbed to $939,800 last month up 4.7% from a year ago and perhaps most telling, homes sold for an average of 113% of their asking price. That means the typical home didn't just sell at list price; it sold well above it, often the result of multiple-offer situations where buyers are bidding against one another just to get to the closing table Homes also moved quickly, spending a median of just 14 days on the market before going under contract, slightly faster than the 15-day pace from June of last year
One encouraging sign for buyers is that more homes are coming onto the market Sellers added 760 new listings in June, a 15.3% jump compared to the same month a year ago, and there are currently 854 active listings across the county. That's a meaningful increase in supply, but it's important to put it in perspective: there are also 1,085 homes already under contract right now, meaning the pipeline of pending sales actually outnumbers the available inventory. In a balanced market, you'd typically expect several months' worth of homes available for sale Essex County is nowhere close to that, which is why prices and competition remain so elevated
The broader national housing picture has been shaped by persistently high mortgage rates over the past few years, which have kept many would-be sellers locked into their existing low-rate mortgages and contributed to a nationwide inventory shortage. Essex County has felt that same pressure, and while the uptick in new listings is a positive development, the 4% dip in year-to-date sales compared to last year suggests that affordability and financing costs are still limiting how many transactions actually get done. Buyers who need a mortgage are working harder than ever to compete with those who can offer cash or large down payments, and that dynamic has kept upward pressure on prices even as overall sales volume has eased slightly
If you're thinking about buying in Essex County, the honest reality is that it's a challenging environment but not an impossible one Being fully pre-approved, working with an experienced agent, and going in with a clear sense of your ceiling price are all essential steps before you start touring homes. If you're a homeowner considering selling, the market is about as favorable as it gets: limited supply, motivated buyers, and prices that have continued to rise. The median list price for active listings currently sits at $719,000, well below recent sale prices, which suggests that properly priced homes are routinely attracting offers above asking and that competitive dynamic shows no sign of reversing in the near term.
Recent Sales Trends
Current Market
854 HOMES FOR SALE
1,085 HOMES
$719,000
$20,000,000
14
Essex
HOWARD HANNA | RAND REALTY
County
Conditions 14 MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from
Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Hudson County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
HudsonCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
June was a busy month for Hudson County's single-family home market, with 60 homes changing hands up 13% from the same time last year and 130 new listings hitting the market, also about 13% more than a year ago. That pickup in activity is encouraging, but it hasn't translated into a buyer-friendly environment just yet. The median sale price came in at $647,500, which is down about 7% from June 2025, but don't read too much into that figure alone: price swings from month to month often reflect the mix of homes that happened to close, not a broad shift in what the market will bear The more telling number may be the sale-to-list ratio, which sat right at 100% meaning homes are selling, on average, for exactly their asking price, a sign that well-priced properties are still finding buyers without much resistance.
Where buyers will feel the pressure most is in the timeline. Homes are spending a median of about 19 days on the market before going under contract, up from roughly 14 days last June which sounds like relief, but is still a relatively fast pace by historical standards. At the same time, there are 179 active listings available right now, compared to 205 homes already under contract, which tells you that demand is keeping pace with and in some ways outrunning supply This kind of inventory imbalance is playing out across much of the Northeast, where years of underbuilding and high mortgage rates have kept many would-be sellers on the sidelines, limiting the choices available to buyers. If you're shopping for a home in Hudson County, you'll want to come prepared: financing lined up, priorities clear, and a willingness to move quickly on the right property.
For sellers, the picture is generally solid, even if it's not the frenzied market of 2021 or 2022. The fact that homes are still selling at or near asking price suggests that buyers haven't gained the upper hand they're competing for a relatively limited pool of homes, and they know it The median list price for homes currently on the market is $632,450, and with the broader price range running from $145,000 all the way up to $5.5 million, there's meaningful variety across Hudson County's diverse towns and neighborhoods Sellers who price realistically and present their homes well are likely to see strong interest; those who overshoot on price may find that today's buyers, stung by higher borrowing costs, are quicker to walk away than they once were.
Zooming out to the first half of 2026, a total of 297 homes sold in Hudson County through June down about 6% from the 317 that sold in the same period last year. That modest dip reflects a pattern seen in many markets nationally, where elevated mortgage rates have slowed overall transaction volume even as prices have held relatively firm. The good news is that the market appears to be gaining momentum as the year progresses, with June's sales pace outpacing last year's Whether that trend continues will depend in part on where interest rates go from here, but for now, Hudson County remains an active and competitive market one where both buyers and sellers can find opportunity with the right strategy and the right guidance.
HOWARD HANNA | RAND REALTY
179 HOMES FOR SALE
205 HOMES
$632,450
$5,500,000
20
Hudson
Hudson County
19.5 MEDIAN DAYS ON MARKET BALANCED MARKET
3.1
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Hunterdon County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
HunterdonCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
Hunterdon County's housing market delivered a striking performance in June, with 167 homes sold a 41.5% jump compared to the same month last year. That surge in closed sales reflects both a release of pent-up buyer demand and a meaningful uptick in new listings, which climbed to 236 in June alone, up more than 51% year over year. Despite the added supply, the market remains firmly tilted toward sellers: homes sold at an average of 103% of their asking price, meaning buyers are routinely paying above list to win deals The median sale price came in at $720,000, up modestly from $712,500 last June, suggesting that while appreciation has cooled from the frenzied pace of prior years, values here are holding firm.
For anyone trying to understand what those numbers feel like on the ground, the sale-to-list ratio above 100% is the most telling signal. It means that on average, the home you're eyeing isn't selling for the asking price it's selling for more, often because multiple buyers are competing for the same property. Homes are also moving quickly, spending a median of just 15 days on the market before going under contract, down from 17.5 days last year. With 292 homes currently under contract against only 313 active listings, the pipeline of pending sales is nearly as large as the available inventory, which tells you demand isn't letting up
For buyers, this is a challenging environment that rewards preparation over hesitation Nationally, mortgage rates have kept many would-be sellers on the sidelines reluctant to trade a low locked-in rate for a higher one which has constrained inventory in markets across the country, and Hunterdon is no exception. The good news locally is that new listings are coming to market at a faster pace than they were a year ago, giving buyers more opportunities than they had in 2025. Still, if you're shopping in this market, it pays to get fully pre-approved before you start touring homes, know your number before you walk into a negotiation, and be ready to move decisively when the right property appears
Sellers, by contrast, are in an enviable position The median list price for homes currently active on the market sits at $795,000 well above the June median sale price suggesting sellers have strong expectations, and the data largely backs them up Year to date, 523 homes have sold across the county, keeping pace ahead of last year's trajectory. If you've been thinking about listing, the combination of strong buyer demand, fast market times, and above-asking-price offers makes this an attractive moment to act particularly before the late-summer slowdown that typically follows the back-to-school season.
Hunterdon County
Current Market
313 HOMES FOR SALE
292 HOMES
$795,000
$7,250,000
15
Hunterdon County
Market Conditions by Price Range
Hunterdon County
Hunterdon County
Market Conditions 15 MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Middlesex County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
MiddlesexCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
June was a busy month for Middlesex County real estate, with 621 single-family homes changing hands a striking 25% jump compared to the same month last year. That surge in sales came alongside a meaningful increase in new listings, with sellers adding 947 homes to the market in June alone, up 28% year over year. The median sale price reached $650,000, a gain of nearly 4% from June 2025, which reflects a market that continues to appreciate steadily even as mortgage rates remain elevated by historical standards. Taken together, these numbers paint a picture of a market that is moving and moving fast
One of the most telling figures in this month's data is the sale-to-list ratio of 103%, which means that on average, homes in Middlesex County are selling above their asking price That's not a fluke it's a signal that buyer demand is strong enough that sellers are regularly fielding multiple offers and commanding more than they listed for. Homes are also moving quickly, with a median of just 20 days on market, virtually unchanged from last year. For sellers, this remains a highly favorable environment, and those who price their homes thoughtfully are being rewarded.
For buyers, the picture is more competitive, though there are some reasons for cautious optimism. The inventory snapshot shows 1,297 active listings alongside 1,219 homes already under contract, which tells you that for every home available, there is nearly one more being snapped up right now That ratio of active to under-contract homes is tight, and it means buyers need to be prepared pre-approved, clear on their priorities, and ready to move decisively when the right home appears. The good news is that new listings are coming to market at a healthy clip, so staying active and working closely with your agent gives you a real advantage as fresh inventory becomes available.
It's also worth noting that while June sales were strong, the year-to-date total of 2,305 homes sold is actually running about 5% behind the same period in 2025 a reminder that the broader market has been navigating headwinds from elevated interest rates that have kept some would-be buyers and sellers on the sidelines Middlesex County, however, continues to benefit from its appeal as a commuter destination with strong schools, diverse communities, and relatively more affordability than neighboring Bergen or Morris counties. Whether you're thinking about selling into this competitive environment or searching for a home in it, understanding what the data is telling you and acting with that knowledge is the best edge you can have right now.
HOWARD HANNA | RAND REALTY
Recent Sales Trends
Current Market
1,297 HOMES FOR SALE
1,219 HOMES
$650,000
$7,000,000
20
Middlesex County
Market Conditions by Price Range
HOWARD HANNA |
Middlesex County
Middlesex County
MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Recent Sales Trends
Current Market
1,184 HOMES FOR SALE
1,212 HOMES
$874,900
$26,000,000
14
Monmouth County
Market Conditions by Price
Monmouth County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
MonmouthCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
June was another strong month for the Monmouth County housing market, with 556 single-family homes closing about 9% more than the same month last year and the median sale price climbing to $850,000, up nearly 7% year over year. Perhaps the most telling number is the sale-to-list ratio of 103%, which means that on average, homes are selling for more than their asking price. That's not a fluke or an outlier it's a signal that buyer demand is outpacing supply, and that well-priced homes are routinely drawing multiple offers If you've been watching the market from the sidelines, that number alone should tell you something about how competitive conditions remain
For buyers, the honest truth is that this is still a challenging environment Homes are going under contract in a median of just 14 days the same pace as last June which means you have very little time to deliberate once the right property comes along. The good news is that new listings are picking up meaningfully, with 901 homes added to the market in June alone, a jump of nearly 30% compared to last year. That kind of inventory growth, which mirrors a broader national trend of sellers gradually becoming more active after years of "rate lock" holding onto mortgages with historically low rates gives buyers more options than they had six or twelve months ago
That said, more listings haven't yet translated into a buyer's market There are currently 1,184 active listings in Monmouth County, but 1,212 homes already under contract meaning the pipeline of pending sales is actually larger than the available supply. The median list price on active homes sits at $874,900, suggesting prices aren't pulling back anytime soon. Nationally, housing economists have noted that even in markets where inventory has improved, prices have remained sticky, and Monmouth County fits that pattern: more homes are coming to market, but demand continues to absorb them quickly and at strong prices
For sellers, this remains a favorable moment to list, particularly as the summer buying season draws motivated families hoping to settle before the school year begins For buyers, the key is preparation getting fully pre-approved, knowing your priorities, and being ready to move decisively when the right home appears. Working with an experienced local agent who knows this market's pace and nuances can make a real difference. Whether you're buying, selling, or simply keeping an eye on your home's value, Monmouth County's market continues to show resilience, and the data suggests that strength is unlikely to fade quickly.
HOWARD
Monmouth County
Monmouth County
Conditions 14 MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Morris County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
MorrisCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
June was a strong month for the Morris County housing market, with 487 single-family homes sold a jump of nearly 21% compared to the same month last year. That surge in closed sales is a notable sign of pent-up demand working its way through the market, even as the broader national housing landscape has remained constrained by elevated mortgage rates. The median sale price came in at $815,000, up modestly from $805,000 a year ago, which tells an important story: prices here aren't skyrocketing, but they aren't softening either Morris County continues to hold its value, supported by strong local fundamentals like highly rated schools, easy commuter access, and a desirable quality of life that keeps drawing buyers in
The detail that really captures the character of this market right now is the sale-to-list ratio of 106% In plain terms, that means the average home is selling for 6% above its asking price so if a home is listed at $770,000, it's closing, on average, closer to $816,000. That kind of competition doesn't happen in a balanced market; it happens when buyers significantly outnumber available homes. With only 697 active listings on the market and 845 homes already under contract, there are more buyers actively purchasing homes than there are homes available to buy a dynamic that keeps upward pressure on prices and makes patience a scarce commodity for anyone hoping to find a deal
For buyers, this market requires a clear-eyed strategy Homes are moving fast the median time on market is just 15 days, unchanged from a year ago which means hesitation can be costly. Coming in with a strong pre-approval, being flexible on terms, and working closely with an experienced agent to craft a competitive offer are no longer optional extras; they're table stakes. The good news is that new listings are picking up, with 644 homes added to the market in June alone, a 15% increase over last year. More supply entering the market gives buyers more opportunities, even if competition remains fierce
For homeowners thinking about selling, the conditions are about as favorable as they get Buyers are active, offers are coming in above asking price, and the pool of homes under contract suggests strong demand isn't letting up anytime soon The year-to-date picture reinforces this stability: 1,759 homes have sold in Morris County through the first half of 2026, essentially matching last year's pace, which confirms this isn't a one-month spike but a consistently active market. If you've been on the fence about listing, this summer's data offers a compelling case for making your move.
HOWARD HANNA | RAND
Recent Sales Trends
Current Market
697 HOMES
$799,000
845
Morris County
Market Conditions by Price Range
Morris County
MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from
Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Passaic County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
PassaicCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
Passaic County's housing market remained firmly in sellers' territory in June 2026, with 251 homes sold a notable 21% jump from the same month last year. Yet despite that surge in activity, prices held relatively steady: the median sale price came in at $655,000, essentially flat compared to June 2025. What stands out is how competitive conditions remain even with more homes coming to market. Sellers received an average of 107% of their asking price, meaning the typical home sold well above its list price a clear sign that buyers are still outbidding one another to land a deal
Inventory is the key story driving that competition Right now, there are 563 active listings in Passaic County, but 682 homes already under contract more homes are spoken for than are available to new buyers Sellers added 457 new listings in June, which is 14% more than a year ago, and that's a welcome development. But the pace of buyer demand continues to absorb new supply quickly, keeping the market tilted in favor of sellers. This pattern mirrors what's happening across much of the Northeast, where limited housing stock built up over years of underbuilding continues to put upward pressure on prices even as mortgage rates remain elevated compared to the historic lows of 2020 and 2021.
For buyers, the market requires patience and preparation Homes are moving fast the median days on market dropped to just 16 days in June so waiting to get pre-approved or hesitating on a showing can mean missing out entirely Buyers who come in with financing already in place, a clear sense of their priorities, and a willingness to act decisively will be better positioned than those who treat the process casually. It also helps to work with an agent who knows specific neighborhoods well, since conditions can vary meaningfully across the county's wide price range, which currently spans from $50,000 to $2.6 million.
If you're thinking about selling, the data suggests this remains an excellent time to list The combination of strong buyer demand, fastmoving sales, and above-asking-price offers means well-priced homes are still commanding serious attention The slight dip in median list price from $624,950 in May to $615,000 in June is worth watching, and it's a reminder that pricing your home accurately from the start matters more than ever. Overpriced homes tend to linger, and a home that sits can lose momentum quickly in a market where buyers have enough options to be selective when something seems off.
Passaic County
Recent Sales Trends
Current Market
563 HOMES
682
$620,000
$2,600,000
Passaic County
Passaic County
Passaic County
Market Conditions 16 MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Somerset County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
SomersetCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
Somerset County's housing market in June 2026 continued to reward sellers while keeping buyers on their toes. A total of 254 homes sold last month, with a median sale price of $786,500 and the real story is how those homes are selling. The average sale-to-list ratio came in at 104%, meaning buyers are routinely paying above asking price to win a home. Homes spent a median of just 14.5 days on the market before going under contract, down from 16 days a year ago a sign that well-priced homes are still moving quickly despite a slight cooling in overall sales volume
There are some early signs that the market may be shifting toward a more balanced footing, even if it isn't there yet New listings surged 15.4% compared to June of last year, with 383 homes added to the market a meaningful increase that is giving buyers more options than they had a year ago. Active inventory now stands at 542 homes, with 449 more already under contract, suggesting demand remains strong even as supply grows. That said, the overall number of sales is down modestly year over year, both in June and across the first half of 2026, which reflects a pattern seen across much of the Northeast as higher mortgage rates continue to make some buyers and sellers hesitant to make a move
For buyers, this market requires preparation and patience but it is not without opportunity The jump in new listings means there is more to choose from, and with the median list price for active homes sitting at $829,000, buyers should have a clear sense of their budget and financing before they start visiting properties. Winning in a market where homes still routinely sell above asking price means getting pre-approved, being ready to move quickly, and working with an agent who knows the local landscape well. In competitive situations, small advantages a strong pre-approval letter, flexibility on closing dates, or a well-crafted offer can make all the difference
Sellers, for their part, continue to hold a strong hand in Somerset County, though the dynamic is becoming slightly more nuanced Homes that are priced right and show well are still attracting multiple offers and selling fast But the increase in inventory means buyers have a little more leverage than they did at the peak of the post-pandemic frenzy, and overpricing a home can lead to it sitting longer than sellers might expect. The fundamentals here remain strong Somerset County's combination of top-rated schools, easy access to major employment corridors, and quality of life continues to draw buyers from across the region and that underlying demand is what keeps this market competitive even as national headwinds persist
Current Market
542 HOMES
$829,000
449
Somerset County
HOWARD HANNA | RAND REALTY
14.5 MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Sussex County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
SussexCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
June was another strong month for the Sussex County housing market, with 180 homes sold a 25% jump compared to the same month last year. That surge in closed sales suggests that buyers who had been sitting on the sidelines earlier in the spring finally pulled the trigger, likely motivated by a modest uptick in available homes. New listings rose about 4% year over year, with 272 homes added to the market in June alone, and there are currently 431 active listings across the county. While that's more supply than we've seen in recent years, it's still not enough to tip the scales toward buyers the market remains firmly in seller territory
The numbers make that seller advantage clear The median sale price came in at $493,500, and homes are selling for an average of 103% of their asking price meaning the typical home is going for more than what it was listed at That kind of sale-to-list ratio is a reliable sign that buyers are competing for homes, often through multiple-offer situations. Homes are also moving quickly, with a median of just 17 days on market, slightly faster than the 18 days recorded in June of last year. If you're thinking about selling, this environment is about as favorable as it gets.
For buyers, the picture is more challenging, though not discouraging With 355 homes currently under contract alongside 431 active listings, roughly half the visible inventory is already spoken for which means your real choices are narrower than the headline number suggests This mirrors a pattern playing out across much of the Northeast, where limited housing stock and still-elevated mortgage rates have created a frustrating combination of high competition and high carrying costs. The best thing buyers can do right now is get fully pre-approved before they start touring homes, move quickly when they find a property they like, and work with an agent who knows how to write a competitive offer without overexposing them financially.
Looking at the broader picture, Sussex County's year-to-date sales of 751 homes are running just slightly behind last year's pace through June, down about 1.4% a modest gap that likely reflects the slower winter months rather than any fundamental weakening of demand Median prices have held steady and continued to climb gradually, up 1.2% from a year ago, which signals a market that's appreciating at a measured pace rather than overheating. That kind of stability is actually a healthy sign for long-term homeowners and prospective buyers alike. Whether you're looking to buy, sell, or simply understand what your home is worth in today's market, the data suggests Sussex County remains a resilient and active real estate market heading into the second half of the year.
Recent Sales Trends
Current Market
431 HOMES FOR SALE
355 HOMES
$500,000
$6,000,000
17
Sussex County
Market Conditions by Price Range
HOWARD
Sussex
Conditions
MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from
Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Union County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
UnionCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
Union County's housing market showed no signs of cooling off in June, with 364 single-family homes sold up 8% from the same month last year and a median sale price of $748,500, a 6.2% increase year over year. To put that in perspective, the typical home in the county is now selling for more than $43,000 above where it was just twelve months ago. Sellers collected an average of 106% of their asking price, meaning that in practice, buyers are routinely offering thousands of dollars over list just to win a deal. That kind of pricing environment reflects a market where demand is still clearly outpacing supply, even as more homes become available
The inventory picture is actually one of the more interesting storylines this month New listings jumped nearly 15% compared to June of last year, with 501 homes coming to market a sign that more homeowners are finally feeling ready to sell Active listings now stand at 618 countywide, with prices ranging from $150,000 all the way to just under $6 million. That's a meaningful improvement from where inventory has been over the past few years, but with 592 homes already under contract, the pipeline of buyers is keeping pace with supply almost step for step, which is why prices haven't softened.
For buyers, this remains a genuinely challenging market but not an impossible one Homes are moving quickly, with a median of just 16 days on market, so hesitation tends to be costly The best-positioned buyers right now are those who have their financing locked in, know their target neighborhoods well, and are working with an agent who can help them move decisively when the right home appears. It's also worth watching active listings carefully: with a current median list price of $649,000 among available homes below the $748,500 median of what's actually selling there may be opportunities in homes that are priced more conservatively or have been sitting on the market longer than average.
Zooming out, Union County's market reflects broader trends playing out across the Northeast and much of the country Mortgage rates have remained elevated by the standards of the early 2020s, which has kept some would-be sellers locked into their existing lowrate loans and contributed to the inventory shortage the region has been navigating for several years The uptick in new listings this June is an encouraging signal that the "lock-in effect" may be loosening slightly. Still, with year-to-date sales running about 5% below last year's pace, it's clear that affordability and limited choices are still holding some transactions back making it all the more important for both buyers and sellers to go into this market with a clear strategy and realistic expectations.
Current Market
618 HOMES FOR SALE
592 HOMES
$649,000
$5,995,000
16
Union
HOWARD HANNA | RAND REALTY
MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from
Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs
Warren County
June 2026 Market Update • Residential Single Family Residence
Market Analysis
WarrenCounty, NewJersey • June2026 • Preparedforhomeownersandprospectivebuyers
Warren County's housing market delivered another strong performance in June, with the median sale price reaching $492,500 a striking 13.2% increase compared to June of last year. To put that in perspective, the typical home that sold for $435,000 a year ago is now commanding nearly $57,500 more. That kind of appreciation is well above what most economists consider a "healthy" annual gain of 3–5%, and it reflects just how much persistent demand is outpacing the available supply of homes in this market. Even more telling, the median sale price actually exceeded the median list price of $482,000, which is a sign that buyers are regularly competing and winning by offering more than sellers are asking
That competitive dynamic shows up clearly in the sale-to-list ratio, which came in at 103.0% for June In plain terms, the average home sold for about 3% above its asking price, which means a home listed at $480,000 likely closed somewhere around $494,000. For buyers, this is a critical data point: budgeting only up to your maximum number may leave you consistently losing out, and working with your agent to craft a strong, well-structured offer from the start is more important than ever. For sellers, conditions like these represent a genuine window of opportunity well-priced homes are moving quickly, with a median of just 19 days on market, and most are generating multiple offers
There are some early signs that the market may be finding a bit more balance, which is worth watching New listings surged 28.1% compared to last June, with 155 homes added to the market during the month, and active inventory now stands at 226 homes. That increase in supply is a meaningful shift more choices for buyers, and slightly less pressure on any single listing than we saw during the peak frenzy of 2021 and 2022. Still, with 201 homes already under contract, much of that new inventory is being absorbed quickly, and the overall number of sales is slightly down year over year, suggesting some buyers are still being priced out or held back by elevated mortgage rates, which nationally have remained in the upper-6% to 7% range through much of 2026.
If you're a buyer feeling frustrated by this market, you're not alone but there are reasons for cautious optimism. The uptick in new listings means more opportunities are coming to market each week, and working with an experienced local agent who can help you move decisively and structure a compelling offer remains your single biggest advantage. If you're a homeowner thinking about selling, the data suggests this is still a favorable moment: prices are high, demand is real, and serious buyers are out there. Whether you're on the buying or selling side, understanding what the numbers actually mean not just the headlines is the best foundation for making a smart decision in Warren County right now
HOWARD HANNA | RAND REALTY
Warren County
Current Market
226 HOMES FOR SALE
$480,000
$6,250,000
19
Warren County
Market Conditions by Price Range
Warren County
Conditions 19 MEDIAN DAYS ON MARKET
Buyer's vs. Seller's Market
This graphic explains the key similarities and differences between a buyer's and seller's market, and how these market factors impact each group Buyer's Market
Market
HOW IT IMPACTS BUYERS
HOW IT IMPACTS SELLERS
More homes to choose from
Could spend less than asking price
Price reductions more common
Rarely competing offers
Takes more time to sell
Fewer offers received
Could get less than asking price
May need to make repairs or concessions
Fewer homes to choose from
Need to be able to close quickly
May pay more than asking price
Competition from other buyers
Homes sell quickly
Multiple offers likely
Could get more than asking price
Buyers willing to overlook repairs