The late-summer housing market in Somerset and Morris counties is showing a few important shifts.

Somerset County remains relatively tight for single-family homes, but condo inventory increased this week. Morris County moved in the opposite direction, adding inventory—particularly single-family homes.

For buyers, that means a little more choice in certain parts of the market. For sellers, overall supply remains limited and well-positioned homes continue to attract strong demand.

Here is what the latest numbers are telling us.

Somerset County: Single-Family Supply Stays Tight

July's full-month data shows Somerset County continuing to favor sellers, particularly in the single-family market.

There were 277 new single-family listings and 257 closed sales, with a median sale price of $865,000, up 5.2% from the prior year. Homes sold in a median of 30 days, with approximately 2.9 months of supply.

Condos and townhomes offered a somewhat different picture. July produced 138 new listings and 90 closed sales, with a median sale price of $460,000.

That attached-home segment is worth watching for buyers who want to remain in Somerset County but are finding single-family prices harder to fit comfortably into their budget.

Somerset Condo Inventory Increased This Week

The more interesting change came in the week-over-week numbers.

Total active Somerset County inventory slipped slightly to 830 homes, but condo inventory increased by nine listings to 85.

• Single-family: 462, down 2
• Condos: 85, up 9
• Townhomes: 180, down 2
• Small multifamily: 23, down 5

It is not a dramatic shift, but buyers shopping for condos now have slightly more selection heading into the fall market.

Morris County: More Single-Family Homes Hit the Market

Morris County's July numbers still show a competitive seller's market.

There were 484 new single-family listings and 452 closed sales, with a median sale price of $825,500, up 10.1% year over year.

Homes sold in a median of just 26 days, while available supply remained at approximately 2.1 months.

The average sale-to-list ratio was 106%, another indication that desirable, properly priced homes were frequently attracting strong buyer competition.

But this week's inventory numbers brought buyers some encouraging news.

Total active inventory increased by 17 homes to 1,020, led primarily by single-family homes.

• Single-family: 651, up 14
• Condos: 95, up 1
• Townhomes: 137, down 9
• Small multifamily: 23, down 3

Fourteen additional single-family homes do not suddenly make Morris County a buyer's market, but additional choices can matter—especially for buyers who have spent the summer competing for limited inventory.

What This Means for Buyers Heading Into Fall

The biggest takeaway this week is not that the market suddenly changed.

It is that opportunity looks different depending on the county and property type.

In Morris County, buyers looking for a single-family home have slightly more inventory to consider.

In Somerset County, the more noticeable opportunity is currently appearing in condos.

That makes flexibility increasingly valuable.

Instead of focusing only on purchase price, buyers should compare the complete monthly housing cost, location, property type, HOA expenses when applicable, and total cash needed at closing.

Sometimes a slightly different property type can create a much better financial fit without requiring a buyer to leave the community they want to live in.