Published October 12, 2026 in Market Update

Most homes in Millburn/Short Hills sold for more than they asked

By Lena Pesso

Real estate, Default Sales 10 11

A lot of sellers in this market wonder whether they will have to take less than they asked. The short answer, for most of them, is no. When I pulled every sale from July 1st through September 30, 2026, one number stood out right away: 93.3% of homes that sold for under $1,600,000 got their full asking price or more. That is not every home in the market, but it is the clearest signal in the data.

Under $2,200,000, nearly every seller got what they asked

Below $2,200,000, the rate of homes that sold at or over asking barely moved: 93.3% under $1,600,000, and 92.9% from $1,600,000 to $2,200,000. That is 29 out of 29 homes in those two ranges that sold at full price or above. The typical home across all 73 sales closed at 106.5% of its last asking price. In this market, a list price is often set deliberately below where the seller expects to land, to bring more buyers to the table. A sale over asking is not a surprise here. It is the normal outcome in that price range.

Above $2,200,000, the gap opens up fast

Cross the $2,200,000 line and the picture changes. From $2,200,000 to $2,750,000, 69.2% of sellers got their full price. At $2,750,000 and up, that share fell to 53.3%. That means nearly half the sellers in that top range took less than they asked. The whole market still averaged 106.5% of asking, but that number is pulled up by the strong performance at the lower end. If your home is priced above $2,750,000, the average does not describe your situation.

Four-bedroom homes ran the hardest over asking

When I cut the same 73 sales by bedroom count, four-bedroom homes stood out. Their typical sale price was $1,949,944, and they sold at 115.6% of their last asking price. Five-bedroom homes came in at 102.4%, and homes with six or more bedrooms landed at 100.7%. The four-bedroom group is smaller, just 14 sales, and a thin sample can move a lot. But the direction fits what the price-range data shows: homes in the middle of this market, where more buyers can compete, are the ones running furthest over asking.

What this means if you are buying or selling here

If you are selling, the data says your price range matters more than the market average does. Under $2,200,000, the typical outcome is a sale at or above asking, and zero homes in this data gave up and came off the market without selling. That is a strong position to list from. Above $2,750,000, the more useful question is not what the market average says, but what the comparable sales in your specific range actually closed for. A price set with that in mind is more likely to attract real competition.

If you are buying, the same split applies. Under $2,200,000, plan to offer at asking or above, because that is what nearly every closed sale required. Homes priced first at $1,500,000 to $2,000,000 closed at a middle price of $1,897,500 and sold at 110.4% of their last asking price. That is not a market where you have room to test a low offer. Above $2,750,000, buyers have had more room to negotiate, with just over half of sellers in that range accepting less than they asked. Rates are a real factor right now too: the 30-year fixed averaged 7.40% as of October 8, 2026, up from 6.30% a year ago, according to Freddie Mac's weekly rate survey. That shifts the math on what a given price actually costs each month.