New Jersey Mortgage Lenders - New Jersey Loan Officers: Somerset & Morris County Market Pulse

Here’s your weekly Somerset + Morris update
I’ve included the latest county-level market read, this week’s inventory moves by property type, one fresh premium listing, a quick rate/markets note, and a few community highlights for Friday, March 20 through Thursday, March 26.

Local Market Update

The latest full-month data for February 2026 showed Somerset County with a $585,000 median sale price, 52 average days on market, and 155 homes sold. Morris County posted a $625,000 median sale price, 33 average days on market, and 226 homes sold. In plain English: Morris is still moving faster, while Somerset’s market remains firm but with a little more time on market than last year.

On the listing side, Realtor.com’s February county data still reads as seller-leaning in both counties. Somerset showed a median listing price around $602,250 with 32 median days on market, while Morris came in around $683,225 with 31 median days on market.

Inventory (Active listings — week over week)
Week-over-week compares to last week’s published snapshot.

Somerset County
• Total active: 442 ?? (-39)
– Single-family: 244 ?? (-19)
– Condos: 67 ?? (-4)
– Townhomes: 80 ?? (-4)
– Multifamily: 13 ?? (-14)

Morris County
• Total active: 711 ?? (0)
– Single-family: 421 ?? (0)
– Condos: 68 ?? (0)
– Townhomes: 100 ?? (+31)
– Multifamily: 18 ?? (-16)

Quick takeaway for agents: Somerset tightened across every filter this week, especially smaller multifamily. Morris stayed flat overall, but the mix shifted — townhome inventory expanded while small multifamily contracted.

Note: Zillow “Total active” and each home-type count are separate filters and are not intended to sum to the total. Filters can overlap, and the total may include categories outside these specific home-type pages.

Featured Listing Spotlight

44 Broadway Rd, Warren Township, NJ 07059 — $2,550,000
Fresh luxury inventory in Warren Township is always worth watching, and this one is newly listed with 5 bedrooms and 5 baths. For agents, this is the kind of upper-end property that can give a useful read on showing traffic and luxury-buyer confidence in Somerset County’s higher-price brackets.

Check it out here:
https://www.zillow.com/homedetails/44-Broadway-Rd-Warren-Township-NJ-07059/461092489_zpid/

National Rate Environment

Mortgage pricing moved higher this week. Freddie Mac said rates rose week over week, the Fed left policy unchanged on March 18, and the MBA reported mortgage applications fell from the prior week. The broad theme is the same one we’ve been talking about: inflation is still a concern, and energy-driven volatility tied to the Iran conflict is keeping bond markets jumpy.

Financial Markets / Economic Themes

The market is still reacting to the same push-pull: inflation versus growth. The Fed’s statement said inflation remains “somewhat elevated,” and recent rate-market coverage points to oil and shipping concerns as a real wildcard because higher energy prices can quickly feed inflation expectations and Treasury yields. For buyers and sellers, that means normal week-to-week mortgage volatility is still part of the landscape.

Feel-Good Local Story

A nice local win this week: the Somerset County Park Commission won two statewide NJRPA awards for excellence in programming, including recognition for Thankful Lights and the 1770s Festival. It’s the kind of community investment that helps make the county feel like home, not just a zip code.

Community Events (Fri Mar 20 → Thu Mar 26)

Somerset County
• Easter/Spring on the Farm! — Fri, Mar 20, 11:00 AM–3:00 PM
• Art Attack for 2–5 Yr Olds — Fri, Mar 20, 3:30–4:15 PM
• Sunset Meditation at the RVCC Planetarium — Fri, Mar 20, 7:00–8:00 PM
• Operation Secure Shred in Bridgewater — Sat, Mar 21, 9:00 AM–1:00 PM
• Easter Bunny at The Commons kicks off — Sat, Mar 21

Morris County
• Hope One at Nourish NJ — Fri, Mar 20, 10:00 AM–2:00 PM
• Navigating Hope at Nourish NJ — Fri, Mar 20
• Fresh Perspectives 2026 at the Morris Museum — running now through May 10
• Galvin Cello Quartet at the Morris Museum — Thu, Mar 26, 7:00 PM

Somerset calendar: https://visitsomersetnj.org/events/
Morris calendar: https://www.morriscountynj.gov/Morris-County-Events

If you’ve got a buyer writing this weekend, a seller who needs a pricing sanity check, or a client who just wants a quick payment strategy review, I’m happy to help.

Book a quick 20-minute call/Zoom here:
https://api.leadconnectorhq.com/widget/bookings/richbolt-20min

Warmly,
Richard L. Bolt (Rich)
Mortgage Loan Officer | NMLS #222703
908-332-8575 | Rbolt@cfmtg.com

Richard L. Bolt

Rich Bolt

Compliance note: Rates and payments vary by credit, down payment, loan type, and property; this is general market commentary, not a commitment to lend.