Somerset & Morris County Real Estate Market Update — June & July 2026

Somerset and Morris County remained solid seller's markets through June and July 2026. Homes in both counties continued closing above asking price. Morris County sold at roughly 106% of list price in June and July, while Somerset County sold between 103% and 105%. Statewide inventory sat at just 4.6 months of supply as of July, well under the six-month mark that signals a balanced market.

Key takeaways

• Morris County's median sold price climbed to $826K in July, up 10.1% year-over-year.
• Somerset County's median sold price reached $865K in July, up 5.2% year-over-year, after a softer June.
• Bernardsville homes sold at 106.6% of list price in an average of 34 days; Basking Ridge homes sold at 104.8% of list price in 23 days.
• New Jersey remains a seller's market statewide, with 4.6 months of housing supply as of July 2026.

Somerset County: single-family homes

June 2026

• Median sold price: $761K
• Sold at 104.5% of list price
• Days on market: 28
• Year-over-year: -8.3%

July 2026

• Median sold price: $865K
• Sold at 103.3% of list price
• Days on market: 30
• Year-over-year: +5.2%

June's year-over-year dip mostly reflects which homes happened to close that month rather than a cooling market and July's rebound to $865K, a 5.2% year-over-year gain, shows the underlying trend is still upward. Sale-to-list ratios stayed above 103% in both months, meaning well-priced Somerset County homes are still fetching over asking.

Morris County: single-family homes

June 2026

• Median sold price: $815K
• Sold at 106.3% of list price
• Days on market: 22
• Year-over-year: +1.8%

July 2026

• Median sold price: $826K
• Sold at 106.0% of list price
• Days on market: 26
• Year-over-year: +10.1%

Morris County's momentum picked up through the summer — year-over-year growth accelerated from 1.8% in June to 10.1% in July, and homes sold at over 106% of list price in both months, among the strongest sale-to-list ratios in the region.

Bernardsville and Basking Ridge (the Somerset Hills)

• Bernardsville: average sold price $1.25M, 106.6% of list price, 34 days on market
• Basking Ridge: average sold price $1.06M, 104.8% of list price, 23 days on market

Both towns delivered strong outcomes for sellers this summer. Basking Ridge homes moved noticeably faster than Bernardsville's, which likely reflects tighter inventory at that price point and steady demand from buyers relocating to the area.

What this means for buyers

With supply still under five months statewide and homes selling above asking in both counties, buyers should expect competition on well-priced listings, particularly in Basking Ridge, where homes are moving fastest. Coming in with a strong, clean initial offer is still the more realistic strategy than waiting for a price drop.

What this means for sellers

This remains a strong window to list. Homes across Somerset and Morris counties sold at or above asking price through June and July, and CRG's own closings during that period sold for a combined $597K over list price, a sign that thoughtful pricing and preparation are still paying off, even as monthly numbers shift.

Frequently asked questions

Is Somerset County a buyer's or seller's market right now? Somerset County is a seller's market as of July 2026. Homes sold at 103.3% of list price on average, and New Jersey's statewide inventory sits at 4.6 months of supply, which is below the six-month threshold that typically signals a balanced market.

What's the average home price in Bernardsville right now? Bernardsville homes sold for an average of $1.25M in June and July 2026, at 106.6% of list price, with an average of 34 days on market.

How long are homes taking to sell in Basking Ridge? Basking Ridge homes sold in an average of 23 days in June and July 2026, faster than nearby Bernardsville, while still commanding 104.8% of list price on average.

Is now a good time to sell in Morris County? Yes — Morris County's median sold price rose to $826K in July 2026, up 10.1% year-over-year, and homes are selling at 106% of list price on average, both signs of strong seller conditions.

What does 4.6 months of housing supply mean for buyers and sellers? A market is generally considered balanced at around six months of supply. At 4.6 months as of July 2026, New Jersey remains tilted toward sellers, meaning well-priced homes are likely to draw competition and sell close to or above asking price.

What's the highest price your home could sell for?

Whether you're weighing a move this fall or want a read on your equity, we're happy to talk it through.

Melissa Reynolds, Carton Reynolds Group at KW Towne Square 908.581.0555

Data sourced from the NJ Realtor Monthly Market Update, June & July 2026.