Somerset & Morris County Real Estate Market Update
Inventory Is Rising — What It Means for Buyers & Sellers
Week of May 2026
The spring market is in full swing across Somerset and Morris County—and we’re starting to see a noticeable shift.
Inventory is rising, giving buyers more options, while strong homes are still moving quickly. That combination is creating a market where strategy matters more than ever.
Let’s break it down.
Market Snapshot
Somerset County
- Median Price: $550,000
- Days on Market: 33
- Homes Sold: 205
Morris County
- Median Price: $660,000
- Days on Market: 25
- Homes Sold: 291
What this means:
Morris County is still moving faster, with quicker sales and stronger pricing. Somerset remains steady, offering a bit more breathing room for buyers.
Inventory Update — Somerset County
- Total Active Listings: 674 (+72)
- Notable Trend: Single-family homes surged (+77)
Takeaway:
More options are hitting the market, especially for traditional homebuyers. This is creating new opportunities—but well-priced homes are still attracting strong interest.
Inventory Update — Morris County
- Total Active Listings: 929 (+48)
- Trend: Growth across all property types
Takeaway:
Inventory expansion is broad-based, giving buyers more flexibility across price points and property styles.
Key Market Insight
Buyers have more choice—but this is NOT a fully balanced market.
- Desirable homes are still selling quickly
- Pricing strategy still matters
- Competition hasn’t disappeared—it’s just more selective
Featured Listings This Week
Luxury Spotlight
89 Mosle Rd, Peapack Gladstone — $2,499,000
A standout luxury property featuring:
- Expansive acreage
- Resort-style pool
- Ultimate privacy
- Fully turnkey condition
A great example of how premium homes continue to command attention when presented correctly.
Mid-Market Spotlight
75 N Auten Ave, Somerville — $585,000
- Move-in ready
- Broad buyer appeal
- Strong demand segment
This is the type of home that continues to move quickly, even as inventory rises.
Mortgage & Rate Update
Rates have been slightly volatile but improved from recent highs.
What matters most right now:
It’s less about trying to perfectly “time the rate” and more about:
- Structuring the right monthly payment
- Understanding long-term affordability
- Having a strategy for future refinancing opportunities
Economic Insight
- Buyers are becoming more selective
- Homes that are priced right and show well are still selling fast
The gap between “move-in ready & priced correctly” vs. “overpriced or outdated” is widening.
Community Highlight
Morris County Career Pathways Night
Events like this highlight what makes our local communities strong—investment in education, workforce development, and long-term growth.
? Real estate is more than homes—it’s about lifestyle and community.
Local Events Happening This Week
- Somerset County Farmers Market (Bridgewater)
- Concerts on the Green (Morristown)
- Downtown Somerville Festival
- Morris Township 5K Run
- Peapack-Gladstone Restaurant Week
These events are a great reminder of the lifestyle that makes this area so desirable.
Final Takeaway
More inventory = more opportunity… but execution matters.
For Buyers:
- You have more options—but don’t hesitate on the right home
- Strong pre-approval and strategy give you an edge
For Sellers:
- Pricing and presentation are everything right now
- The market rewards homes that are positioned correctly from day one
Need a Game Plan Before You Buy or Sell?
The market is shifting—and having the right strategy can make all the difference.
Schedule a quick 20-minute call:
https://api.leadconnectorhq.com/widget/bookings/richbolt-20min
Richard L. Bolt
Mortgage Loan Officer
NMLS #222703
Cornerstone First Mortgage, LLC – NMLS #2258
908-332-8575
Rbolt@cfmtg.com
Disclosures
This is not a commitment to lend. All mortgage options are subject to credit approval, underwriting guidelines, and program availability. Rates, terms, and conditions are subject to change without notice. Equal Housing Lender.