Prices: Still Climbing
The countywide median sale price was about $756K in August 2026, up 9.9% from a year earlier, according to Redfin. County figures blend very different markets, though: lakefront Mountain Lakes and estate-heavy Montville sit far above the median, while towns like Boonton and parts of Parsippany offer lower entry points. For a read on a specific town or street, ask Romila.
Mortgage Rates: Holding Above 7%
Per Freddie Mac's survey (Oct 22, 2026), the 30-year fixed averages 7.32% and the 15-year 6.68%. The 30-year eased this week for the first time since late August; it averaged 6.66% in late August and 6.19% a year ago. Sub-6% rates look unlikely this year. The practical takeaway: waiting for rates to fall often costs more than it saves if prices keep climbing — many buyers are choosing to buy the right home now and refinance later if rates drop.
Pace: Homes Are Taking Longer to Sell
Median days on market reached 37 in August, up from 20 in April and 36 in July, according to Realtor.com data published by the St. Louis Fed (measured from listing to pending or sale). Buyers have more time to decide and more room to negotiate than in the spring. Even so, well-priced homes in sought-after school districts still draw strong interest quickly, so preparation — pre-approval, clear priorities, a decisive agent — still wins.
For Sellers
Prices are still rising, but with homes taking longer to sell and rates above 7%, buyers are more selective than they were in the spring. That makes correct pricing from day one more important than ever: overpricing and chasing the market down with cuts costs sellers real money. Strategic prep — paint, decluttering, professional photography — and pricing right from day one is how homes like Romila's 30 Powerville Rd listing sold 12% above list in 10 days.
For Buyers
Know your true monthly cost — not just principal and interest, but NJ property taxes (often ~2.2% of value), insurance, and maintenance. Try the True Cost Calculator, explore NJHMFA first-time buyer assistance ($10,000–$15,000 forgivable loans), and note the 2026 conforming loan limit of $832,750 — above that, you're in jumbo territory with different qualification rules.
For town guides and current listings, see the Morris County real estate overview. Sources: Freddie Mac Primary Mortgage Market Survey (October 22, 2026); Redfin (median sale price, August 2026); Realtor.com via FRED (median days on market, August 2026). County-level figures vary by town and property type.