Somerset + Morris Market Pulse
Summer is bringing more opportunity into the market across Somerset and Morris Counties.
Inventory expanded again this week, giving buyers more choices while sellers continue benefiting from healthy demand when homes are priced and positioned correctly. At the same time, affordability remains one of the biggest decision drivers, making preparation and financing strategy more important than ever.
Here’s your local market pulse.
Somerset County Housing Snapshot
Somerset County continues to show resilient buyer demand for well-positioned homes.
Single-Family Homes
- New Listings: 316
- Median Sale Price: $727,500
- Median Days on Market: 30
Townhouse / Condo Market
- New Listings: 130
- Median Sale Price: $497,000
- Median Days on Market: 30
Market Read:
Buyers remain active, but they’re becoming increasingly selective. Homes that combine smart pricing with strong presentation continue to capture attention quickly.
Morris County Housing Snapshot
Morris County continues moving at a strong pace with slightly faster turnover than neighboring areas.
Single-Family Homes
- New Listings: 612
- Median Sale Price: $775,000
- Median Days on Market: 28
Townhouse / Condo Market
- New Listings: 144
- Median Sale Price: $555,000
- Median Days on Market: 24
Market Read:
Demand remains healthy, particularly in move-up and lifestyle-driven segments where inventory still feels constrained.
Inventory Watch (Week-over-Week)
(Compared directly with last week’s Market Pulse)
Somerset County
Total Active Listings: 790 (+47)
- Single-Family: 459 (+16)
- Condos: 96 (+9)
- Townhomes: 137 (-2)
- Multifamily: 28 (+10)
What It Means:
Somerset added inventory again this week, led by gains in single-family and condo supply. Buyers may have slightly more negotiating flexibility than earlier in spring.
Morris County
Total Active Listings: 1,067 (+40)
- Single-Family: 688 (-11)
- Condos: 80 (No Change)
- Townhomes: 129 (No Change)
- Multifamily: 20 (No Change)
What It Means:
Overall inventory expanded, but the core housing categories stayed relatively stable. Demand for move-in-ready inventory continues to support pricing.
Mortgage & Economic Outlook
Mortgage conditions remain elevated compared with the ultra-low-rate years many buyers still remember.
That doesn’t mean waiting necessarily creates advantage.
Today’s successful buyers are typically focusing less on timing rates perfectly and more on:
- Payment comfort
- Strong pre-approval strategy
- Negotiation opportunities
- Long-term financial fit
For sellers, affordability continues to influence buyer behavior—which makes pricing strategy and presentation more important than ever.
Economic signals remain mixed but stable:
- Continued modest growth
- Inflation pressures still present
- Labor market remains supportive
- Affordability remains the largest challenge
That environment usually creates a market where serious buyers stay active—but become more intentional.
Local Events & Community Highlights
Summer energy is showing up across Somerset and Morris Counties.
Friday, June 19
- St. Ann’s Italian Festa — Raritan
- USA Watch Party events — Bridgewater Commons
Saturday, June 20
- Bernardsville Farmers’ Market
- Downtown Somerville Summer Stage Concert Series
Sunday, June 21
- Community pop-up events across Somerset County
Tuesday, June 23
- North Plainfield Summer Concert Series
Thursday, June 25
- Downtown Somerville Pride Festival
- Montgomery community programming
- Morris County arts and cultural events
Stay Connected
Want this Market Pulse delivered to your inbox every week?
? Text: MARKET PULSE to 908-332-8575
and I’ll add you to the weekly email distribution list.
If you know someone thinking about buying, moving up, refinancing, or simply wanting a smart mortgage game plan, I’d be grateful for the introduction.
Schedule a 20-Minute Strategy Call:
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Best,
Richard L. Bolt
Mortgage Loan Officer
Cornerstone First Mortgage
NMLS #222703
Office: 908-332-8575