Bergen & Essex County Housing Market Update: What Buyers Should Know This Fall

October 3, 2026
Estimated reading time: 4 minutes

If you're thinking about buying a home in Bergen or Essex County, New Jersey, this fall's market is sending two messages at the same time: buyers have more choices, but desirable single-family homes can still attract serious competition.

Meanwhile, mortgage markets continue to move quickly, making it especially important for buyers to understand both their purchasing power and monthly payment before making an offer.

Here's what the latest numbers are telling us.

Bergen County: Single-Family Homes Remain Competitive

The latest complete NJ REALTORS county data is for August 2026.

For Bergen County single-family homes:

Median sale price: $925,000 — up 5.1% year over year
Closed sales: 548 — down 5.2%
Days on market: 30
Average percentage of list price received: 104.1%
Homes for sale: 1,045 — up 1.6%
Months of supply: 2.4

Those numbers suggest Bergen County's single-family market remains competitive. Homes sold for an average of more than their asking price, while available supply remained relatively limited.

The townhouse and condominium market looks different. Inventory increased 27.1% year over year to 656 units, while months of supply climbed to 3.7. Sellers received an average of 99.6% of asking price.

What does that mean for buyers?

Property type matters.

Someone shopping for a condominium or townhouse may encounter more choices and potentially greater negotiating flexibility than someone competing for a well-priced single-family home in a popular Bergen County community.

Essex County: Strong Demand for Single-Family Homes

Essex County's August single-family numbers also show significant buyer competition:

Median sale price: $877,500 — up 3.3% year over year
Closed sales: 374 — up 6.6%
New listings: 346 — up 10.5%
Days on market: 31
Average percentage of list price received: 108.9%
Homes for sale: 633 — down 0.8%
Months of supply: 2.3

An average sale-to-list ratio of 108.9% illustrates how competitive certain Essex County properties were during the reporting period.

But, again, attached housing tells a somewhat different story.

Townhouse and condominium inventory increased 26.4% year over year to 187 units. The median sale price in that category was $380,000, down 8.4% year over year, while sellers still received an average 104.0% of asking price.

The lesson isn't that one category is automatically a "buyer's market" or "seller's market." It's that buyers should evaluate the specific town, property type, condition and recent comparable sales rather than relying solely on countywide headlines.

Buyers Have More Choices — But Competition Hasn't Disappeared

More recent September market-pacing data indicates overall inventory across multiple property types was higher than a year earlier in both counties.

Bergen County had approximately 2,300 active listings, up 16.9% year over year, with a median 38 days on market. Essex County had approximately 2,100 active listings, up 17.1%, with a median 40 days on market.

Because these figures use a different methodology and include multiple property types, they shouldn't be compared directly with the NJ REALTORS closed-sales figures above.

They do, however, reinforce an important point: more inventory doesn't necessarily mean the competition is gone.

A desirable home that is priced correctly and hits the market today can create a very different negotiating environment from a property that has been available for several weeks.

What Is Happening With Mortgage Rates?

Mortgage rates have also been volatile.

Freddie Mac's Primary Mortgage Market Survey for October 1 reported a national average of 7.28% for a 30-year fixed mortgage, compared with 7.03% the previous week. Its 15-year fixed national average was 6.60%, up from 6.42%.

It's important to understand what those numbers represent.

The Freddie Mac survey is a national market benchmark — not a live mortgage quote. Mortgage pricing can change throughout the week and can vary considerably depending on a borrower's credit profile, loan amount, down payment, property, occupancy, loan program, points and lock period.

That's why I encourage buyers not to make their entire homebuying decision based on one national mortgage-rate headline.

Don't Try to Time the "Perfect" Mortgage Rate

Economic reports can move Treasury yields and mortgage pricing quickly.

Recent employment data showed slower job growth, which can sometimes benefit the bond market. But mortgage rates aren't controlled by one economic report, and markets can reverse direction quickly.

Trying to predict the exact bottom in mortgage rates can therefore become frustrating.

A more useful question is:

What home price and monthly payment are comfortable for me under today's conditions?

Once you know that number, you can shop with greater confidence. If financing conditions improve later, you can evaluate your options at that time.

More Inventory May Create Negotiating Opportunities

One benefit of increasing inventory is that some buyers may have opportunities they didn't have when nearly every property immediately generated intense competition.

If a home has been sitting on the market, there may be room to discuss items such as:

Purchase price
Seller-paid closing costs
Repairs or credits
Temporary or permanent mortgage buydowns
Closing date and timing

That doesn't mean every seller will agree to those terms. A newly listed property attracting multiple offers may require an entirely different strategy.

That's why buyers should look beyond the asking price.

A lower purchase price isn't necessarily the best financial outcome if another structure produces a more comfortable monthly payment or reduces the cash required at closing.

The Bottom Line for Bergen and Essex County Buyers

The North Jersey housing market isn't moving in one direction.

Single-family homes in Bergen and Essex counties remain competitive, while growing inventory—particularly among townhouses and condominiums—is giving some buyers more selection.

At the same time, mortgage-market volatility makes preparation increasingly important.

Before you start negotiating on a property, know your numbers: how much cash you'll need, what monthly payment you're comfortable with, and how different financing or seller-concession strategies could affect the transaction.

Thinking About Buying?

If you're considering a home in New Jersey and want to understand what the payment could look like before making an offer, I'm happy to help you review the numbers and financing options.

Richard L. Bolt (Rich)
Mortgage Loan Officer | NMLS #222703
Cornerstone First Mortgage | NMLS #173855
Mobile Office: 908-332-8575
Email: rbolt@cfmtg.com

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Market information is provided for educational purposes and may change. Freddie Mac PMMS figures are national market benchmarks and are not an offer to lend or a quote of available mortgage terms. This information is not a commitment to lend, approval, or guarantee of financing terms. Equal Housing Opportunity.