The New Jersey market right now.

Inventory across New Jersey sits near 0.81 months of supply. A balanced market usually carries five to six months, so we are still deep in seller territory. That shortage is why prices keep rising and why homes are selling above asking in under two months.

There is a shift underneath the surface, though. The number of homes for sale is up about 4.7% from a year ago, and closed sales are down roughly 2.7%. Buyers are still active, but higher prices and rates have made them more selective. The result is a market that rewards preparation on both sides of the table.

If you are selling

You still have the advantage, but the days of any listing selling itself are fading. Pricing, condition, and presentation decide whether you get one strong offer or a bidding war. A well-prepared home in a town like Livingston, Westfield, Summit, or Short Hills can still command a premium and multiple bids. We build the pricing and marketing plan around that.

If you are buying

Come ready. Get fully pre-approved, know your numbers, and be prepared to move quickly on the right home, because good listings are still going fast and often over asking. The slightly larger inventory this year gives you a bit more to choose from than last, which is the first real breathing room buyers have had in a while.

If you own land or a teardown

Tight supply and rising prices are exactly the conditions that keep builders hungry for lots. When finished homes are scarce and values are climbing, a well-located teardown or oversized lot can be worth more to a builder than it would ever bring as a traditional listing. This is the market our Builders Resource Center was built for.

Figures reflect statewide New Jersey data for August 2026 from Redfin and Houzeo. Local conditions vary by town and price point. For a read on your specific street, ask us.