Bergen + Essex County Real Estate Market Update: What Buyers and Sellers Need to Know

September 19, 2026 • 7 min read

If you are thinking about buying, selling, or making a move in North Jersey, there is a lot happening in the housing market right now.

More homes are coming on the market in some areas. But good homes are still getting plenty of attention from buyers. At the same time, mortgage rates have moved higher again.

So, what does all of this mean for you?

Here is a simple look at what is happening in Bergen and Essex counties—and what you may want to think about before making your next move.

This Week at a Glance

Here are a few of the numbers that stand out:

Bergen County single-family median sale price: $925,000, up 5.1% from last year.
Bergen sellers received: 104.1% of their asking price on average.
Essex County single-family median sale price: $877,500, up 3.3% from last year.
Essex sellers received: 108.9% of their asking price on average.
30-year fixed mortgage average: 6.95% as of September 17, according to Freddie Mac.
15-year fixed mortgage average: 6.26%.

The big picture is pretty simple: buyers have a few more choices in some parts of the market, but competition has not disappeared.

Well-priced homes can still move quickly.

Bergen County: More Homes, but Buyers Still Face Competition

Bergen County buyers got some welcome news in August.

There were 578 new single-family listings, which was 12% more than August of last year.

More listings can mean more choices for buyers.

But there is another side to the story.

The median single-family sale price reached $925,000, up 5.1% from a year earlier. Sellers also received an average of 104.1% of their asking price.

That means a home listed for $800,000 would have sold for about $832,800 if it followed the county average.

Of course, every home and every town is different. An average does not tell us what one specific house will sell for.

But it does tell us something important.

Buyers are still competing for the homes they really want.

Bergen County had about 2.4 months of available single-family inventory in August. That is still a fairly tight supply.

What This Means for Bergen County Buyers

You do not have to panic or rush into the wrong house.

But you should be prepared.

Before you start making offers, know your comfortable monthly payment, have your financing reviewed, and make sure your preapproval is current.

A strong offer is not always the offer with the highest price. The financing, closing date, down payment, and other terms can also matter to a seller.

The goal is to know what you can comfortably do before the right house appears.

What This Means for Bergen County Sellers

More listings mean buyers may have more homes to compare.

That makes pricing and presentation important.

A home that is clean, prepared, marketed well, and priced correctly can still attract strong interest. But simply putting a home on the market at a high price does not guarantee a bidding war.

Your first few days on the market can be important, so having a plan before the listing goes live matters.

Essex County: Strong Buyer Demand Continues

Essex County had an especially competitive August.

The median sale price for a single-family home was $877,500, up 3.3% from a year ago.

There were 374 closed sales, an increase of 6.6%.

There were also 346 new listings, up 10.5%.

More homes came onto the market, but buyers continued to compete.

The biggest number may be this one:

Essex County single-family sellers received an average of 108.9% of their asking price.

Again, that does not mean every house sold above asking.

It does show us that competition remained strong across the county.

Essex had about 2.3 months of single-family inventory, so buyers were still working with a limited supply of available homes.

Condos and Townhomes Tell a Different Story

Buyers who are open to a condo or townhome may have more choices.

Essex County townhouse and condo inventory increased to 187 properties, up 26.4% from a year earlier.

Months of supply increased from 2.0 to 2.8 months.

That is an important reminder that there really isn't just one "housing market."

A single-family home in one town can have very different competition from a condo a few miles away.

Your strategy should fit the type of property you are trying to buy.

Mortgage Rate Update

Mortgage rates moved higher this week.

According to Freddie Mac, the national average for a 30-year fixed-rate mortgage was 6.95% on September 17, 2026, up from 6.76% the week before.

The average 15-year fixed rate was 6.26%, up from 6.09%.

These are national averages—not a rate quote.

Your actual mortgage rate can be different based on factors such as your credit, loan program, down payment, property type, loan amount, and other details.

Why Buyers Should Pay Attention to Payment, Not Just Rate

It is easy to become focused on one number: the mortgage rate.

But when I work with buyers, I like to bring the conversation back to something more useful:

What monthly payment works for your household?

Two buyers purchasing the same-priced house may have very different loans and monthly payments.

Your down payment, taxes, homeowners insurance, mortgage insurance, loan program, and interest rate can all affect the final number.

That is why I believe buyers should know their numbers before they start shopping seriously.

You don't want to fall in love with a home and then discover the payment is more than you wanted.

And you don't want to assume you cannot buy without first looking at the actual numbers.

Should You Sell First or Buy First?

There isn't one answer that works for everybody.

For some homeowners, selling first may make the most sense.

For others, buying first may be possible.

And for some families, there may be financing strategies they simply did not know were available.

Before deciding, I like to look at the whole picture.

How much do you owe on your current home?

What might it sell for?

How much equity do you have?

What price range are you considering for the next home?

What monthly payment would feel comfortable?

How quickly do you want to move?

Once we have those answers, we can start looking at the options.

You may have more choices than you think.

One Thing I Want Buyers to Remember This Week

Do not try to time everything perfectly.

People sometimes tell me they are waiting for rates to fall, prices to fall, inventory to rise, or competition to disappear.

Any of those things could change.

But nobody knows exactly what the market will look like three or six months from now.

Instead, start with your own situation.

If the right home became available this weekend, would you know what you could comfortably afford?

Would your preapproval be ready?

Would you understand the cash needed for closing?

Would you know what your payment could look like?

Those are things you can control.

Being prepared does not mean you have to buy a house tomorrow.

It simply means that when the right opportunity comes along, you can make an informed decision.

Thinking About Buying, Selling, or Doing Both?

If you are considering a move in New Jersey, Florida, or Georgia, I would be happy to help you look at the mortgage side before you make a decision.

If you already own a home and are wondering whether you could buy before you sell, let's look at the numbers together.

If you are buying your first home, we can review your price range, estimated payment, down payment options, and the mortgage programs that may fit your situation.

And if you are simply trying to decide whether now is the right time to move, that is a good reason to talk too.

There is no need to guess.

Let's look at your situation and build a plan.

Richard L. Bolt
Mortgage Loan Officer
NMLS #222703

Cornerstone First Mortgage
NMLS #173855

Mobile Office: 908-332-8575
Email: rbolt@cfmtg.com

Ready to talk? Schedule a 20-minute virtual meeting with Richard to discuss your homebuying or mortgage questions.

Mortgage programs are subject to borrower and property qualifications, underwriting approval, program availability, and other requirements. Rates and terms are subject to change. Freddie Mac rates shown above are national survey averages and are not an offer to lend or a rate quote.