Brokers — List your Company Here
Featured local agent — New Vernon, NJ
Sarah Mitchell
Compass Real Estate · New Vernon, NJ
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
This spot is open. Be the only brokerage featured on this page — one slot, no auction.
Claim this spot* Example only — dummy agent for illustration. Your logo, name, tagline, link, and lead routing replace this content.
New Vernon, NJ Housing Market
The last median sale price Redfin published was $560,000 (through May 2026). With 1.0 months of supply and homes going under contract in about 57 days, New Vernon is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $560,000 home is about $2,990/mo in principal and interest.
Key numbers for New Vernon, NJ
Median sale price
$560,000
Last published period
Redfin, through January 2026
Days on market
57
Average pace
Redfin, through January 2026
Active listings
1
1.0 months of supply
Redfin, through January 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Sale-to-list ratio
96.7%
Selling below asking
Redfin, through January 2026
Zillow figures refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is New Vernon a buyer's or seller's market?
New Vernon, NJ is a seller's market, based on 1.0 months of supply and homes selling in about 57 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the New Vernon housing market data show?
Every row below is Redfin's final published month for New Vernon, NJ. Redfin, through January 2026
| Metric | Value |
|---|---|
| Median sale price | $560,000 |
| Median price per sq ft | $401/sq ft |
| Median days on market | 57 days |
| Active inventory | 1 listings |
| Months of supply | 1.0 months |
| Sale-to-list price ratio | 96.7% |
| Homes sold (that month) | 1 |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for New Vernon is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in New Vernon is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have New Vernon home prices moved?
Across the 34 months we hold for New Vernon, NJ, the median sale price fell 71.5%, from $1.96M in June 2021 to $560,000. For prices to fall meaningfully from here, supply would have to keep building past 1.0 months while the sale-to-list ratio slips below its current 96.7%. Watch those two together — they move before the median does.
Redfin, through January 2026 — the chart ends at Redfin's final published month.
Get New Vernon market alerts
Weekly updates on prices, inventory, and trends. Free forever.
What does it cost to buy a home in New Vernon?
Priced off the median sale price of $560,000 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $112,000 | $448,000 | $2,990/mo |
| 5% | $28,000 | $532,000 | $3,550/mo |
Redfin, through January 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $2,990, that implies roughly $128,125 a year before you add taxes and insurance. We do not hold a Census income figure for New Vernon, so we cannot compare that threshold to local earnings.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in New Vernon in the next 12 months?
Tell us your timeline. We send the New Vernon market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in New Vernon?
Zillow does not publish a rent index (ZORI) for New Vernon, NJ, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in New Vernon?
Active listings in New Vernon, NJ went from 2 in December 2023 to 1 in January 2026, a -50.0% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| February 2024 | 2 | not published |
| May 2024 | 4 | 3 |
| June 2024 | 3 | 1 |
| August 2024 | 1 | not published |
| October 2024 | 3 | 2 |
| December 2024 | 3 | 1 |
| April 2025 | 1 | 1 |
| June 2025 | 1 | 1 |
| July 2025 | 1 | 1 |
| October 2025 | 1 | not published |
| November 2025 | 1 | 1 |
| January 2026 | 1 | not published |
Redfin, through January 2026
How does New Vernon compare to New Jersey and the U.S.?
New Vernon homes sell for $560,000 — 3% below the New Jersey median of $579,900. Against the national median of $410,700, New Vernon runs 36% higher.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| New Vernon, NJ | $560,000 | not published | 57 days |
| New Jersey statewide | $579,900 | +3.7% | 35 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through January 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in New Vernon
What buyers should watch
- Months of supply, currently 1.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The gap between 5% and 20% down here is $561 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $560,000 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median New Vernon listing goes under contract in 57 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 96.7% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- Comparable ZIP-level pricing inside New Vernon varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in New Vernon
There are currently 1 homes listed for sale in New Vernon, New Jersey.
Active listings
1
Homes on market
Avg. days on market
57
Days until sale
How much do homes cost in New Vernon by property type?
How the New Vernon, NJ market breaks down across single-family homes, condos and townhouses. Redfin, through January 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $560,000 | $401/sq ft | 1 | 57 days |
Who lives in New Vernon?
American Community Survey estimates for New Vernon. U.S. Census ACS, 2023
Population
791
Households
310
Median age
50.2 years
Owner-occupied
59.7%
Median home value
$1.61M
Median gross rent
$3,205/mo
Mean commute
36.4 min
59.7% of occupied homes in New Vernon are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which public schools serve New Vernon?
1 schools tracked · 298 students
The largest public schools serving New Vernon, NJ by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Harding Township School
Grades PK-8 · 298 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near New Vernon, NJ?
Ordered by distance from New Vernon, not by size. Compare New Vernon side by side with any of them.
New Vernon housing market FAQ
Is New Vernon a buyer's or seller's market?
New Vernon, NJ is currently a seller's market. That read comes from 1.0 months of supply, homes going under contract in about 57 days, and sellers getting 96.7% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in New Vernon?
The median sale price in the last month Redfin published was $560,000, about $401 per square foot.
Is New Vernon cheaper than the rest of New Jersey?
New Vernon's median sale price of $560,000 is 3% lower than the New Jersey statewide median of $579,900, and 36% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in New Vernon?
Homes in New Vernon, NJ spent a median of 57 days on market before going under contract, versus 35 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in New Vernon?
At the current 30-year fixed rate of 7.03%, 20% down on a $560,000 home is about $2,990 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $128,125 a year before taxes, insurance, HOA dues or mortgage insurance.
Are home prices rising in New Vernon?
We do not hold a complete 12-month value series for New Vernon, NJ yet, so we are not going to call a direction. The price chart above shows every period we do have.
What are the cheapest ZIP codes in New Vernon?
New Vernon ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in New Vernon?
That depends on your timeline, not on a headline. What the data says today: New Vernon, NJ is a seller's market with 1.0 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
Be the brokerage on this page
1 slot per pageGet featured on New Vernon, NJ
Your logo, brokerage name, and direct link to your site — featured at the top of this page in front of every visitor researching this whole city. One brokerage, no rotation, no bidding war.
- Goes live in 24 hours
- Cancel anytime
- Do-follow backlink to your site
Keep researching New Vernon
Nearby markets
Get the New Vernon market brief
Get the New Vernon, NJ market brief
One email: what homes are actually clearing at around $560,000, how long they sit, which ZIPs run cheaper, and what to fix on your credit before you apply.