Published October 11, 2026 in Market Update

More listings do not mean a slower market in every part of the Primary market

By Lena Pesso

Real estate, Primary market

You may have read that more homes are coming onto the market. Realtor.com reported active listings up 6.7% from a year ago nationally as of October 8, 2026. That sounds like breathing room for buyers. In parts of this market, though, it is not showing up that way.

The Real Estate Data Aggregator counted 930 homes sold across the Primary market in the three months ending August 31, 2026, with 422 homes for sale and 796 new listings. That is a busy market. But the numbers split sharply by ZIP code, and that split is what actually matters for your decision.

Supply tells the real story, and it varies a lot

Months of supply measures how long it would take to sell every home currently listed, at the current pace of sales. Below two months is generally considered a seller's market. Several ZIP codes here are well below that line.

ZIP 07940 had just 0.8 months of supply, according to the Real Estate Data Aggregator. ZIP 07901 and ZIP 07928 each sat at 0.9 months. At those levels, a well-priced home does not wait long.

How fast are homes actually moving?

Median days on market measures the midpoint, meaning half of homes sold faster and half sold slower. It is a steadier signal than the median price in a thin month.

ZIP 07901 had a median of 13 days, the Real Estate Data Aggregator found. ZIP 07928 and ZIP 07078 each came in at 14 days. That is fast by any measure. ZIP 07039, the largest ZIP by volume with 115 homes sold, ran a bit slower at 21 days, though that was 39 days shorter than the same period a year earlier.

What buyers are actually paying versus list price

Sale-to-list ratio measures what the final sale price was as a share of the asking price. In this market, a ratio above 100% usually means the home was priced to draw competition, not that a buyer overpaid. That is a common local strategy.

ZIP 07042 led the market. The Real Estate Data Aggregator counted 84.3% of homes there selling above list price, with an average sale-to-list ratio of 120.1%. ZIP 07901 was close behind at 111.4% and 78.4% above list. These are not signs of a softening market in those ZIP codes.

The national picture is different from this one

The National Association of Realtors reported 4.9 months of supply nationally, the highest level in over ten years. Existing-home sales fell 2.0% month over month in August 2026, though they were up 1.6% year to date through the first eight months of 2026.

Freddie Mac put the average 30-year fixed rate at 7.40% as of October 8, 2026, and the 15-year at 6.73%. Realtor.com noted mortgage rates reached their highest level in nearly three years that same week, at 7.28%. Rates at that level do reduce what buyers can afford. That is a real factor, and it is worth naming.

Even so, the Primary market is not the national market. Where supply stays below one month and homes are moving in under two weeks, the national headlines do not fully apply.

Where the market is more balanced

Not every ZIP code here is moving at the same speed. ZIP 07021 had 3.1 months of supply, according to the Real Estate Data Aggregator, with only 4 homes sold in the period. That is a thin sample, and one or two closings can shift the picture. ZIP 07932 saw homes for sale rise 112.5% year over year, and its median days on market ticked up 4 days. Those are signs of a more balanced local picture.

ZIP 07068 is worth a look too. Homes sold there doubled year over year, the Real Estate Data Aggregator found, with 26 sales versus 13 a year earlier. New listings rose 76.5%. The median price was up 23.8%. A big jump in a small ZIP can reflect which homes happened to close, not a permanent shift. Price per square foot would give a cleaner read there.

What this means if you're selling

More new listings did come to market in some ZIP codes. ZIP 07039 saw new listings rise 7.5% year over year. ZIP 07068 saw them rise 76.5%. More competition is real, and it is worth knowing about before you price.

The tradeoff is this: in the tightest ZIP codes, a well-prepared home is still going under contract fast. In ZIP 07078, 48.7% of homes went under contract within two weeks of listing, the Real Estate Data Aggregator found, up 15.4 points from a year ago. In ZIP 07901, 44% did. Preparation and pricing still drive the outcome more than the national headlines do.

What this means if you're buying

A few more listings do not automatically mean more negotiating room. In ZIP 07042, the average sale came in at 120.1% of list price. In ZIP 07901, it was 111.4%. Redfin noted as of September 30, 2026, that 12.2% of home sellers in the Newark, New Jersey area were dropping their asking prices. That share exists, but it is the minority, not the rule, in the strongest parts of this market.

Where you do have more choices is in ZIP codes with two or more months of supply. There, a patient buyer has a better chance to negotiate. The right approach depends on which street you are looking at, not which headline you read.