Bergen & Essex County Market Pulse: Week of August 29, 2026
August 29, 2026 • 7 min read
Bergen County real estate, Essex County housing market, Northern NJ real estate, August 2026 housing market, NJ mortgage rates, Bergen County mortgage, Essex County mortgage, mortgage preapproval
The late summer 2026 housing market in Bergen County and Essex County continues to be active, competitive, and nuanced. Whether you are planning to buy, sell, or advise clients, this Market Pulse for the week of August 29, 2026 brings together key housing data and economic context to help you make more informed decisions in Northern New Jersey real estate.
Bergen County Single-Family Homes: Still a Strong Seller’s Market
Single-family homes in Bergen County remain highly competitive. The median sale price has climbed to $949,500, an 8.5% year-over-year increase. For homeowners, this reflects meaningful equity growth over the past twelve months. For buyers, it is another reminder that Bergen County real estate continues to command premium pricing, especially in desirable school districts and commuter-friendly towns.
Activity has also been brisk. There were 620 closed sales, up 13.6% compared with last year. The median days on market is just 26, meaning a typical well-priced single-family home is under contract in less than a month.
For sellers, that is encouraging. For buyers, it underscores the importance of having your financing organized, being fully pre-approved, and being prepared to move quickly when the right property becomes available.
Pricing power also remains on the side of sellers. Homes are closing at 104.6% of list price on average. In practical terms, that can mean multiple offers and bidding situations, particularly for attractive, move-in-ready homes.
With only 2.6 months of supply, the single-family segment remains firmly in seller’s-market territory. A balanced market is generally considered to have approximately five to six months of inventory.
For homeowners: If you have been considering selling in the next year or two, the combination of rising prices, relatively quick market times, and strong list-to-sale ratios is worth watching closely.
Bergen County Condos & Townhomes: More Choice, Slightly Softer Pace
The condominium and townhouse segment in Bergen County is telling a somewhat different story.
Inventory has expanded meaningfully, with available units up 24.7% to 636 units. Months of supply has increased to 3.5 months, which is still seller-leaning but considerably closer to a balanced market than the single-family segment.
Despite the increase in supply, pricing has held up well. Sellers are receiving approximately 99.9% of list price on average.
That suggests buyers may have a little more breathing room and potentially more negotiating flexibility than they do with single-family homes. For first-time buyers, downsizers, and others looking for alternatives to detached homes, Bergen County condos and townhomes may provide an interesting opportunity.
For buyers: If single-family homes are stretching your budget, exploring condos and townhomes may open additional possibilities while keeping you close to many of the communities, transportation options, and amenities that make Bergen County attractive.
Essex County Single-Family Market: Stable Prices, Intense Competition
In Essex County, the single-family housing story is one of relatively stable median prices combined with continued buyer competition.
There were 448 new listings, an 8.5% increase compared with last year. At the same time, 401 closed sales took place, up 4.4%.
The median sale price in Essex County sits at $875,000, which is flat year-over-year.
On the surface, flat pricing might suggest a cooling market, but other indicators tell a more nuanced story. Median days on market is 26, down from 28 days a year ago. Homes are actually selling slightly faster even though the median price is holding steady.
One of the most notable figures is the sale-to-list ratio. Essex County single-family homes are closing at an average of 111.9% of list price.
That level of competition means buyers need to think beyond simply finding the right property. Financing preparation, offer strategy, timing, and communication among the buyer, real estate agent, and lender can all become important when competing for a home.
There are 633 homes for sale across the county, a 9.3% decline in active listings year-over-year. With only 2.3 months of supply, Essex County remains a pronounced seller’s market in the single-family category.
Key takeaway for sellers: Even with the median price relatively flat, strong sale-to-list ratios indicate continued demand. Pricing strategy can play an important role in generating attention and competitive offers.
Essex County Condos: Signs of Cooling and Longer Market Times
While single-family homes remain fiercely competitive, the condominium segment in Essex County is showing clearer signs of cooling.
Condos are taking a median of 46 days on market, meaning they are sitting considerably longer than typical single-family properties. The sale-to-list ratio is 102.1%, still above asking on average but much less heated than the single-family segment.
For buyers who want to be in Essex County but are feeling squeezed by single-family bidding wars, condos and townhomes may offer another path to homeownership.
For sellers, this environment calls for realistic pricing, strong presentation, and patience. The right units are still selling, but buyers may have more time to compare their choices.
Bigger Picture Inventory: A Broader Look at Supply
Stepping back from the weekly numbers, broader listing trends also provide useful perspective.
According to June Realtor.com data, Bergen County had 2,261 active listings, an 11.2% increase from a year earlier. Essex County had 2,390 active listings, up 13.1% year-over-year.
So, even though local market figures continue to show tight months of supply—especially for single-family homes—the overall pool of properties available to Northern New Jersey shoppers has been expanding compared with last summer.
For buyers, gradually improving inventory may mean more properties to consider. For homeowners, it reinforces the importance of proper pricing and presentation as buyers gain additional choices.
Competitive homes can still sell quickly and at strong prices, but buyers may have somewhat greater ability to compare properties before making a decision.
Mortgage Market Check-In: Rates and the Economy
Financing conditions remain an important backdrop for buyers, sellers, and real estate professionals.
According to the Freddie Mac Primary Mortgage Market Survey as of August 27, 2026, the national benchmark 30-year fixed rate stood at 6.66%, while the 15-year benchmark was 5.98%.
These figures are provided for general market commentary only and are not a mortgage rate quote. Actual mortgage rates and terms can vary based on factors including credit profile, loan type, down payment, property characteristics, and daily market movement.
Inflation and Federal Reserve policy also remain important factors affecting the direction of borrowing costs. That means mortgage rates can continue to move in either direction as new economic information reaches the market.
For homebuyers, trying to perfectly time interest rates can be difficult. A more practical approach is understanding what different combinations of home price, down payment, loan program, and interest rate could mean for your monthly payment.
Practical tip: If you are considering purchasing a home in Bergen or Essex County, consider reviewing several financing scenarios rather than focusing on a single interest-rate number. Understanding your comfortable monthly payment range can help you shop more confidently even when rates fluctuate.
What This Means for Buyers, Homeowners, and Real Estate Professionals
The Bergen and Essex County markets remain active as we head toward the end of summer 2026.
Single-family homes continue to favor sellers, with limited supply, relatively short market times, and strong competition in many communities. Condos and townhomes are showing more balanced conditions, potentially creating additional opportunities for buyers.
If you are a buyer: Preparation matters. Know your comfortable payment range, keep your pre-approval current, and make sure your lender and real estate agent are ready to communicate quickly when you find the right property.
If you are a homeowner: County-wide statistics are useful, but real estate remains highly local. Your town, neighborhood, property type, condition, and price range can behave very differently from the county averages.
If you are a real estate professional: Buyers are balancing home prices, inventory, mortgage rates, and monthly affordability. Having a financing strategy established before the right property appears can help clients make more confident decisions when opportunities arise.
Ready to Talk About Your Mortgage Options?
Market statistics are useful, but what really matters is how the numbers apply to your individual situation.
If you are considering buying a home, one of the most useful first steps is understanding what you may qualify for and, just as importantly, what monthly payment feels comfortable for you.
A mortgage pre-approval can help you understand your potential buying power before you begin making offers.
If you are already pre-approved but have been shopping for a while, it can also make sense to review your financing and make sure your pre-approval still reflects your current goals and market conditions.
Richard L. Bolt
Mortgage Loan Officer
NMLS #222703
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All loans are subject to credit approval, underwriting guidelines, and property review. Market information and any rate information included above are for informational and educational purposes only and do not constitute a commitment to lend or a mortgage rate quote. Terms, conditions, rates, and programs are subject to change without notice.