Bergen & Essex County Housing Market Update – August 22, 2026
August 22, 2026 • 5 min read
Bergen County Housing Market | Essex County Real Estate | North Jersey Home Prices | Housing Inventory | Mortgage Market Update
The Bergen and Essex County housing markets remain competitive in August 2026, even as buyers gain more choices in parts of North Jersey.
Bergen County’s July median single-family sale price reached approximately $950,000, while Essex County’s median was approximately $875,000. Bergen inventory has improved somewhat, while Essex remains particularly tight.
The bigger takeaway: more homes for sale have not translated into broadly lower home prices.
Here’s what the latest market data means for North Jersey buyers, sellers and homeowners.
Bergen & Essex County Housing Market at a Glance
| July 2026 | Bergen County | Essex County |
|---|---|---|
| Median Single-Family Sale Price | $950,000 | $875,000 |
| Year-over-Year Price Change | +8.5% | Approximately Flat |
| Single-Family Closed Sales | ~610 | — |
| Days on Market | — | 26 days |
| Active Inventory Trend | Improving | Remains Tight |
| Market Character | Competitive | Very Competitive |
The two counties aren’t moving exactly the same way, which is why broad “New Jersey housing market” headlines don’t always tell North Jersey buyers and sellers what they need to know.
What Is Happening With Bergen County Home Prices?
Bergen County’s median single-family sale price reached approximately $950,000 in July 2026, up about 8.5% from $875,500 one year earlier.
Approximately 610 single-family homes closed during July, nearly 14% more than a year earlier.
That combination is significant: more homes sold while prices increased.
It suggests buyer demand remains capable of absorbing additional inventory, particularly for desirable homes in sought-after school districts and commuter-friendly locations.
There is some encouraging news for buyers.
Realtor.com data showed Bergen County active listings increasing from approximately 1,728 in June to 1,789 in July. Median market time also increased from 29 to 33 days.
That doesn’t make Bergen County a buyer’s market, but it may create more opportunities on individual properties that aren’t attracting immediate competition.
What Is Happening in the Essex County Housing Market?
Essex County tells a somewhat different story.
The July median single-family sale price was approximately $875,000, roughly unchanged from a year earlier.
But the median price doesn’t tell the entire story.
Homes averaged approximately 26 days on market, available single-family inventory remained constrained, and sellers received approximately 111.9% of asking price on average.
That does not mean every Essex County home sells 12% over asking. Results can vary dramatically by town, neighborhood, condition and price point.
But it does show how competitive certain segments of the Essex County market remain.
Is Housing Inventory Increasing in North Jersey?
In some areas, yes.
Bergen County buyers are seeing more active listings. Essex County inventory, however, remained relatively flat from June to July.
Realtor.com reported:
Bergen County: approximately 1,789 active listings in July, up from 1,728 in June.
Essex County: approximately 893 active listings in July, compared with 899 in June.
One important data note: NJ REALTORS/MLS and Realtor.com use different methodologies and property mixes. Their figures shouldn’t be added together or treated as identical measurements.
Instead, they provide complementary views of the market. MLS data helps tell us what has been selling, while active-listing data provides another perspective on what buyers are seeing in the market.
Is Bergen or Essex County Becoming a Buyer’s Market?
Not countywide.
More inventory doesn’t automatically mean a buyer’s market.
What does appear to be changing is that the market is becoming increasingly property-specific.
A newly listed, move-in-ready home in a desirable neighborhood may still attract multiple offers.
A property that has been available for 30 or 40 days—or has already experienced a price reduction—may present a completely different negotiating opportunity.
For buyers, that means paying closer attention to days on market, price changes, competing listings, property condition, taxes and total monthly housing expense.
Instead of asking:
“Is this a good market to buy?”
A more useful question may be:
“What’s happening with this particular house?”
Why Haven’t Mortgage Rates Improved More?
This is one of the more interesting financial-market stories right now.
Several recent economic reports would ordinarily be expected to help the bond market and potentially mortgage pricing.
July payroll employment fell by 23,000 jobs, while May and June payroll figures were revised downward by a combined 103,000 jobs.
July CPI increased only 0.1% month over month, producer prices were unchanged, and July retail sales declined 0.6%.
Taken together, weaker employment, softer inflation and slower consumer spending would normally be considered supportive for bonds.
So why haven’t we seen more improvement in mortgage rates?
Oil and Iran Are Complicating the Picture
The bond market is looking forward, not just at today’s economic reports.
Continued tensions involving Iran and the Strait of Hormuz have helped push energy prices higher, creating concern that elevated oil prices could eventually work their way back into transportation costs, manufacturing expenses and consumer inflation.
Long-term Treasury yields have also faced pressure from concerns surrounding government borrowing, heavy Treasury issuance and substantial corporate bond supply.
That leaves the market in a tug-of-war:
Weaker economy + softer inflation → potentially positive for bonds
Higher oil + geopolitical risk + future inflation concerns + heavy debt issuance → pressure on bonds
That matters because mortgage rates don’t simply follow the Federal Reserve.
Longer-term mortgage pricing is heavily influenced by Treasury yields and mortgage-backed securities, which respond to expectations about inflation, economic growth and investor risk.
What Does This Mean for Homebuyers?
Don’t assume mortgage rates must fall simply because economic data weakens—or because the Federal Reserve eventually changes its short-term policy rate.
If energy prices and geopolitical pressures ease, the softer economic data could potentially give the bond market more room to respond.
Until then, buyers may be better served by keeping their payment numbers current rather than trying to predict exactly where mortgage rates will be several weeks or months from now.
Mortgage-market information is provided for general market education only and is not a rate quote, offer, approval or commitment to lend. Individual mortgage pricing varies based on credit, down payment, loan program, occupancy, property type, points, lock period, loan amount and market conditions.
Financing Strategy of the Week: Bank Statement Loans
Self-Employed? Your Tax Return Isn’t Always the Only Way to Document Income
Self-employed buyers sometimes encounter an unusual mortgage problem: their business may have strong cash flow, but legitimate business deductions reduce the taxable income shown on their tax returns.
For some borrowers, bank statement mortgage programs provide another way to document qualifying income.
Instead of relying primarily on tax returns, these programs may analyze 12 or 24 months of personal or business bank statements and use eligible deposits to calculate income. When business statements are used, an expense factor or other analysis is typically applied rather than simply treating every business deposit as personal income.
Bank statement loans are generally considered Non-QM financing, so guidelines, down-payment requirements, credit standards and pricing can differ from conventional mortgages.
The useful takeaway: Being self-employed—or showing substantial business deductions on a tax return—doesn’t automatically mean someone can’t qualify for a mortgage. There may be more than one way to document income, depending on the borrower’s circumstances.
Program availability and qualification requirements vary by lender and borrower. This information is for educational purposes only and is not an offer or commitment to lend.
Bergen & Essex County Housing Market FAQ
What is the median home price in Bergen County, NJ?
The July 2026 median single-family sale price in Bergen County was approximately $950,000, about 8.5% higher than a year earlier.
What is the median home price in Essex County, NJ?
The July 2026 median single-family sale price in Essex County was approximately $875,000.
Are home prices falling in North Jersey?
Not broadly based on July’s county-level data. Bergen County’s median single-family price increased approximately 8.5% year over year, while Essex County’s median was roughly flat.
Is Bergen County a buyer’s or seller’s market?
Despite improving inventory, current pricing and demand indicators suggest many Bergen County communities and property segments remain seller-friendly. Individual properties can behave differently depending on price, condition, location and days on market.
Is Essex County still a seller’s market?
Many indicators remain seller-friendly. Inventory remains constrained, homes have been moving relatively quickly, and the July average sale-to-list ratio remained elevated.
Can I get a mortgage if I’m self-employed and my tax returns show low income?
Possibly. Some bank statement mortgage programs allow eligible self-employed borrowers to document qualifying income using bank deposits rather than relying solely on traditional tax-return calculations. Requirements vary by program.
What Does the August 2026 North Jersey Housing Market Mean for You?
The latest numbers point to a North Jersey housing market that is changing—but hasn’t suddenly become inexpensive or easy.
Bergen buyers have more choices. Essex remains particularly competitive. And desirable homes can still move quickly in both counties.
For buyers, that makes preparation more valuable than prediction.
Know your comfortable payment. Understand your cash requirement. Keep your financing updated. And evaluate each property based on what is actually happening with that home—not just what you hear about the national housing market.
For homeowners and sellers, the same principle applies. Countywide statistics are useful benchmarks, but your town, neighborhood, price range and property condition ultimately determine your market.
Have a question about buying, financing or what these market changes could mean for you? I’m always happy to be a resource.
Richard L. Bolt
Mortgage Loan Officer
NMLS #222703
Citywide Home Mortgage | NMLS #2611
908-332-8575
richard.bolt@citywidehm.com
Schedule a 20-minute mortgage strategy conversation
All mortgage programs are subject to borrower and property qualification, underwriting approval, program availability and change without notice. This information is provided for educational purposes and is not a commitment to lend.
Sources & Data Notes
The July Bergen and Essex County housing statistics and Realtor.com inventory comparison are based on the market research compiled for the August 22 Market Pulse. The underlying report includes Bergen’s approximately $950,000 median single-family sale price, Essex County’s approximately $875,000 median, and the inventory and market-time trends discussed above.
Different real estate data providers may use different property classifications, reporting periods and methodologies, so figures from separate sources should be viewed as complementary rather than combined.