Summit, NJ Home Values & Market Trends
Real estate market trends reflect that there have been 273 transactions over the past year in Summit. The median value for residential home transactions that occurred over the previous year is $1,229,609.36. The number of current listings in Summit is 65, and the percentage of properties for sale in the city is 78.31%. Summit, NJ currently has 18 properties in foreclosure, 0 bank owned properties, 0 properties headed for auction, and 65 properties for sale.
Summit, NJ Real Estate Market Overview
| Zip | Median Est. Value | Zip | Median Est. Value |
|---|---|---|---|
| 07901 | $ 1,263,000 $ 635/sqft |
Housing Market Summary for Summit, NJ
| Mar 2025 | March 2026 | Change | |
|---|---|---|---|
| Median Listing Price | $1.3M | $1.3M | 1.84% |
| Median Sold Price | $1.1M | $1.3M | 21.01% |
| Homes For Sale | 25 | 60 | 140.00% |
| Homes Sold | 138 | 115 | -16.67% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Summit, NJ
Browse Homes in Summit, NJ
Summit home values range from $263,700 to $2,044,000. The median estimated value of a home in Summit is $1,229,609.36. The median list price of a home is 1,450,000, and the total count of properties in the city is 6,593.
- Pre-ForeclosurePre-foreclosure homes account for 0.27% of all residential properties in Summit, NJ with 07901 containing 18 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Summit, NJ; of that zips, the estimated home value for pre-foreclosure homes ranges from $1,907,000 in 07901 to the lowest home value of $726,700 in 07901.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Summit, NJ ranges from the highest value of $0 in N/A to the lowest value of $0 in N/A. Bank owned homes and properties account for 0% of properties in Summit, NJ. There is 1 zips within Summit, NJ; N/A containing 0 REO properties, has the highest number of bank owned properties in a single zip.
- AuctionsN/A has 0 auction properties, the highest number of properties going to auction in a single zip in the state of Summit, NJ. Auction homes and other auction properties account for 0% of all properties in Summit, NJ. There is 1 zips within Summit, NJ; of that zips, the median estimated home value for homes going to auction ranges from $0 in N/A to the lowest value of $0 in N/A.