Union County, New Jersey

What is your Summit property worth to a builder?

If you own land, a teardown, or an oversized lot in Summit, it may be worth far more to a builder than a traditional sale would ever bring. The Builders Resource Center knows exactly who is buying in Summit and what they will pay.

Read our guide: What Your Land Is Worth to a Builder →

Why Builders Want Summit

A market builders compete in.

A sought-after commuter city with premium schools and a vibrant downtown. Summit's established housing stock and prime location fuel steady teardown and rebuild activity.

That demand is exactly why an ordinary-looking Summit property can be worth a premium to the right builder. We track who is actively buying, what they are paying, and what your town's zoning allows, so you get an honest read on your property's real development value.

Summit Market Report

What homes actually sold for in Summit.

Every single-family sale recorded with the State of New Jersey in Summit over the last 12 months, July 2025 through June 2026. Real deed records, not estimates.

235homes sold256 sales the year before
$1.51Mmedian sale priceup 20.8% from $1.25M the year before
8new homes soldmedian $1.84M
66sales over $2Molder homes: median $686 per sq ft

In Summit, a newly built home sold for a median of $1.84M, about 1.2 times the median older home ($1.5M). That gap is what builders are paying for when they buy a lot or an older house. Find out what a builder would pay for yours →

Igor Guberuk

Your Summit agent

Igor Guberuk, REALTOR-Associate, Builders Resource Center. Follows these numbers every month and can tell you what they mean for your home.

Meet Igor Call or text (718) 812-3777

Source: NJ Division of Taxation deed records (SR1A): usable single-family sales from $100K to $20M recorded July 2025 through June 2026. New homes = built the year of the sale or the year before. Updated September 2026.

More on Summit

Go deeper on Summit.

Selling a home in SummitPrices by home size, what builders pay, and a free estimate.Moving to SummitWhat your budget buys and how old the homes are.New construction in SummitRecent new-home sales, sizes and price per square foot.Land and teardowns in SummitWhat builders paid for older homes, and lots for sale now.What can you build on your lot?Enter an address: zoning, lot size and roughly how big a new home could be.

What We Do in Summit

Three ways we get you more.

01

Land & Teardowns

Older or dated homes and oversized lots in Summit often sell for more as a builder's canvas than as a traditional listing. You sell as-is, no repairs or staging.

02

Subdivisions

If your Summit lot can be divided, that potential can multiply its value. We know what the town will realistically approve and what builders will pay for it.

03

New Construction

We sell new construction in this market every week, so we price your land against what the finished home will actually command in Summit.

Now on the Market

Homes for sale in Summit.

The newest homes for sale in Summit, live from the MLS and updated all day.

Looking for something specific? Search every listing in Summit and nearby towns by price, size and features, or set the status to Sold to see recent closings.

Free & Confidential

What is your Summit property worth?

Your information stays private. We never share owner details with builders until you tell us to.

Areas We Serve

We buy land and build across New Jersey.

Beyond Summit, the Builders Resource Center works with landowners in:

Essex County
Bloomfield · Caldwell · Cedar Grove · Essex Fells · Fairfield · Glen Ridge · Livingston · Maplewood · Montclair · North Caldwell · Nutley · Roseland · Short Hills & Millburn · South Orange · Verona · West Caldwell · West OrangeMorris County
Boonton Township · Chatham · Chester · Denville · East Hanover · Florham Park · Hanover Township · Harding · Kinnelon · Long Hill · Madison · Mendham · Montville · Morris Plains · Morris Township · Morristown · Mountain Lakes · Parsippany · RandolphUnion County
Berkeley Heights · Clark · Cranford · Fanwood · Garwood · Kenilworth · Mountainside · New Providence · Rahway · Roselle Park · Scotch Plains · Springfield · Union · WestfieldSomerset County
Basking Ridge · Bedminster · Bernardsville · Bridgewater · Far Hills · Green Brook · Hillsborough · Montgomery · Peapack-Gladstone · Warren · WatchungBergen County
Allendale · Alpine · Closter · Cresskill · Demarest · Englewood · Englewood Cliffs · Franklin Lakes · Glen Rock · Harrington Park · Haworth · Ho-Ho-Kus · Mahwah · Montvale · New Milford · Norwood · Old Tappan · Oradell · Paramus · Ridgewood · River Vale · Saddle River · Tenafly · Upper Saddle River · Washington Township · Westwood · Woodcliff Lake · Wyckoff