The latest data from New Jersey REALTORS® covers April 2026 statewide and the March 2026 county-level reports for Essex, Union, and Middlesex. The headline is not a simple "hot" or "cooling" story. Each county is reading differently — and if you're buying or selling, that distinction matters more than any statewide average.
Statewide: More Listings, Fewer Closings, Prices Still Up
Across New Jersey in April 2026, single-family homes hit a statewide median of $600,000 — up 4.3% from a year ago. New listings jumped 11% to 8,753 for the month. That's meaningful supply entering the market after years of near-drought conditions.
But closed sales fell 10.6% year-over-year, down to 3,769. That gap between new listings and actual closings tells the real story: buyers are looking, but elevated prices and rates are causing hesitation at the contract stage. Days on market for single-family homes ticked up to 40 days — an 8% increase from last April.
Townhouses and condos statewide closed at a median of $443,595, up 4.4%, with inventory up 10.1%. Sellers in that segment are now receiving exactly 100% of list price — not the 101–103% premiums of 2023 and 2024. More negotiating room than there's been in years.
Essex County: The Premium Market Holds Firm
Essex County continues to operate in its own tier. The March 2026 single-family median was $750,220 — a 13.7% increase over March 2025. Sellers there are getting 109.1% of list price on average. On a $750K home, that's buyers paying roughly $67,000 above ask.
Inventory is tight at 518 active single-family listings with just 1.9 months of supply. Homes are moving in 38 days on average. Towns like Montclair, Maplewood, Millburn, and West Orange continue to see compressed, high-competition dynamics where preparation isn't a nice-to-have — it's the price of entry.
The condo and townhouse segment tells a different story: median dropped to $380,000 in March, down 16% from the prior year. That reflects a shift in unit mix more than a true price collapse, but it does create a window for buyers willing to consider attached housing in Essex.
Union County: Speed Over Everything
Union County is the quiet standout. Single-family homes in March closed in just 33 days — 17.5% faster than the prior year — making it the fastest-moving county in this comparison. Sellers received 104.4% of list price.
The median came in at $642,500, roughly flat month-over-month, but up 4.7% year-to-date. Inventory sits at a razor-thin 1.8 months of supply. Towns like Westfield, Summit, Cranford, Fanwood, and Springfield are absorbing demand efficiently without the extreme price spikes Essex has seen.
Middlesex County: The Most Interesting Story Right Now
Middlesex County is where buyers finally have breathing room. Single-family new listings in March shot up 72.7% year-over-year to 703 — and inventory jumped 55.6% to 898 active listings. Months of supply moved from 1.7 to 2.2. That's a meaningful inventory build in a single month.
Closed sales rose 25.4%, and buyers are receiving homes at 101% of list — still over asking, but close to a normal negotiation. The median single-family price was $570,000, essentially flat. Sellers who held off listing are coming to market simultaneously. For buyers, this is welcome. For sellers, it means you can't price aggressively without risking sitting.
What This Means Right Now
Essex sellers still hold the cards on well-priced product — but overpriced listings are sitting longer than 18 months ago. Union sellers can move fast with accurate pricing. Middlesex sellers now have competition on the same block; presentation and price matter more than they did last spring.
In Essex and Union, you still need to be pre-approved and ready to move the day a listing hits. In Middlesex, you have slightly more time and slightly more leverage — use it for due diligence, not delay. Condos and townhouses statewide are the most negotiable they've been in years.
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Send Maurice a MessageMaurice Snipes II is a licensed New Jersey Real Estate Salesperson with Cairn Properties Group, brokered by Real Broker, LLC. County-level data reflects NJ REALTORS® Local Market Update for March 2026; statewide data reflects NJ REALTORS® Monthly Indicators for April 2026. Data sourced from NJ MLS via ShowingTime Plus, LLC. Margin of error ±4% at 95% confidence. Not legal, tax, or financial advice. Equal Housing Opportunity.