Mountain Lakes Housing Market Report
Mountain Lakes is a small market, with about 60 sales a year, so a single month can swing the numbers. This report pulls together the latest figures from several sources and labels where each one comes from. Sources measure differently, so treat these as a range, not a precise reading.
Prices
Mountain Lakes remains one of Morris County's most expensive towns, with a median sale price around $1.2 million, according to Homes.com, which reports prices up about 2% from a year earlier. Redfin's monthly figures run higher, with a June 2026 median of about $1.42 million. The gap reflects how few homes sell in any one month and how much a handful of lakefront sales can move a monthly median.
Pace of Sales
Homes are taking longer to sell than in the spring. Movoto puts the median time on market at 45 days in September 2026. With roughly three months of supply, according to Homes.com, buyers have somewhat more choice than they did earlier in the year.
Well-presented homes still sell above asking. Recent examples on Redfin include 43 Howell Rd, which sold 8% over list, and 63 Crane Rd, which sold 12% over list. Romila's own listing at 30 Powerville Rd sold 12% over list in 10 days in April 2026.
Mortgage Rates
Per Freddie Mac's survey of October 22, 2026, the 30-year fixed rate averages 7.32%, down from 7.40% the prior week, its first weekly decline since late August. Higher rates weigh more on buyers at Mountain Lakes price points, where a large share of the purchase is financed above the conforming loan limit.
What It Means
For sellers: pricing correctly from day one matters more than it did in the spring. Homes that are priced and presented well still draw strong offers; homes that start too high tend to sit.
For buyers: longer market times mean more room to negotiate on many homes, but the best lakefront and walk-to-school properties still move quickly.
Romila currently represents 1 Warwick Rd, a 1937 Colonial in Mountain Lakes. For a valuation of your own home, see what your home could sell for, or read the full Mountain Lakes real estate guide.
Sources: Homes.com (median sale price, 12-month sales, months of supply); Movoto (median days on market, September 2026); Redfin (June 2026 median and individual sales); Freddie Mac Primary Mortgage Market Survey (October 22, 2026). Figures were gathered October 2026 and change monthly.