Published September 25, 2026 in Market Update

Some parts of this market are moving very fast and bidding is still common

By Lena Pesso

Real estate, Primary market

If you are watching this market, the headline number you need is not the average. It is how your specific ZIP code is moving. Realtor.com reported the typical U.S. listing spent 61 days on market. In ZIP 07901, the Real Estate Data Aggregator counted a median of just 13 days. Those two numbers describe very different situations for buyers and sellers.

Days on market measures how long a home sits before a buyer goes under contract. When that number is 13, sellers have very little waiting. For buyers, it means a well-prepared first offer matters more than a second chance.

How fast homes are moving, by ZIP code

Every ZIP in this market moved faster than the national pace Realtor.com measured. But the range here is still wide. ZIP 07052 took 23 days at the median. ZIP 07041 and ZIP 07078 took 12. That is nearly twice as long at one end versus the other.

Where bidding above list is most common

Sale-to-list ratio measures what buyers actually paid against what sellers asked. A ratio above 100% means the home sold for more than its asking price. The share of homes sold above list tells you how often that happened.

In ZIP 07042, the Real Estate Data Aggregator counted 90.2% of homes selling above list. The average sale came in at 123.7% of asking price. That is a meaningful gap between list and final price. In ZIP 07039, 57.7% sold above list, and the average sale-to-list was 103.6%. Both are competitive. They are not the same situation.

How quickly homes go under contract

The share of homes that went under contract within two weeks of listing is another way to measure speed. It shows how often buyers had to move fast, not just how fast the median home moved.

ZIP 07078 had 54.8% of homes under contract within two weeks, up 22.1 points from a year earlier, according to the Real Estate Data Aggregator. ZIP 07039 was at 23.2%, down 26.4 points from a year ago. One area is getting faster. The other is slowing. Both are in the same market.

Prices: mostly up, with a few exceptions

Median sale price is the middle price of all homes that closed. Half sold for more, half for less. It is not the same as an appraisal of any one home.

Most of this market saw prices rise from a year ago. ZIP 07901 was up 24.6% and ZIP 07928 was up 24.1%, according to the Real Estate Data Aggregator. A few ZIPs, including 07006 and 07044, each dipped 2.5%. That is a small move, and it does not mean those areas are struggling. It means pricing there still matters.

Supply is tight across the board

Months of supply measures how long it would take to sell every home currently listed, at the current pace of sales. Below three months generally favors sellers. The National Association of Realtors reported the national supply at 4.9 months as of its most recent reading. Every ZIP in this market sat well below that.

ZIP 07901 had just 0.9 months of supply. That means if no new listings came on, everything available would be gone in under a month at the current pace. ZIP 07039 was at 2.8 months, the widest in this market, but still well below the 4.9-month national figure the National Association of Realtors reported.

The wider picture

Nationally, Freddie Mac put the average 30-year fixed mortgage rate at 7.03% as of September 24, 2026. The 15-year averaged 6.42%. Those rates shape what buyers can afford, and they are part of why supply stays tight. Fewer people are moving when the rate on their next home is higher than the one they have now.

The Federal Housing Finance Agency reported U.S. house prices rose 2.1% year over year through the second quarter of 2026. This market's price gains in several ZIPs ran well ahead of that national pace, according to the Real Estate Data Aggregator.

Across the whole primary market, the Real Estate Data Aggregator counted 790 homes sold in the three months ending July 31, 2026. That is down just 0.8% from the same period in 2025. New listings were up 3.7% to 848. More homes coming on is a small shift toward balance, though supply is still lean.

One street can read very differently from its ZIP code, and one ZIP can read very differently from the market as a whole. If you want to know what the numbers look like for your specific address, that is a conversation worth having.