Data note: All figures in this report reflect May 2026 data sourced from the Redfin Data Center. Published June 12, 2026.
Spring's final chapter is in the books. May delivered the clearest market segmentation I've seen all year: two counties pulling decisively into Seller's Market territory while the rest of the state holds in buyer-friendly or balanced conditions — and one head-turning reversal that's worth unpacking carefully.
The headline number: Union County posted +10.8% year-over-year price growth — the biggest gain in the state — while simultaneously running a 19-day median DOM and a 105% sale-to-list ratio. That combination puts Union in Seller's Market territory (73/100) for the first time this cycle.
Right alongside it: Morris County remains the fastest market in the state at 16-day DOM, with a 75/100 health score — the only other true Seller's Market in NJ. Together, Morris and Union are doing something no other county is doing right now.
Then there's Hudson. We need to talk about Hudson.
Morris & Union: The Only Two Seller's Markets in NJ
Morris County deepened its lead as the fastest market in the state. Median DOM held at 16 days — the same razor-thin pace as April — with $748K median price (+9.8% YoY) and a 105.8% sale-to-list ratio. Active listings grew to 1,456, but the market absorbed new supply without missing a beat. A health score of 75/100 puts Morris in clear Seller's Market territory.
The consistency is the story. April's 17-day DOM wasn't a spike — May's 16 days confirms this is the structural pace of Morris County right now. If you're a buyer targeting Morristown, Madison, or Chatham, you're competing against a clock. Pre-approval in hand, decision made before you walk in the door.
Union County is May's biggest mover. Median price hit $720K, up +10.8% year-over-year — the highest YoY gain of any county this month. DOM held at 19 days, S/L at 105%, and active listings were essentially flat at 1,258 (unchanged from April). With a health score of 73/100, Union has crossed the Seller's Market threshold.
What's driving Union? The county sits at the intersection of Midtown Direct rail lines (Westfield, Summit corridor) and NYC commuter demand that has nowhere cheaper to land in Essex or Morris. With inventory flat and prices climbing nearly 11%, Union is quietly becoming one of the most competitive markets in the state.
Essex Hits 108.7% Sale-to-List
Essex County crossed a threshold this month: 108.7% sale-to-list ratio — the highest reading of any county in my data this year. The average Essex home is closing roughly $62,000 above asking on a $723K median (+3.3% YoY).
DOM compressed further to 29 days (from 36 in April), and with 2,276 active listings, supply isn't the issue — buyers are simply outbidding each other aggressively. Essex's health score moved to 51/100, now a Balanced Market, but the sale-to-list number tells the real story: this feels more like a Seller's Market on the ground.
For buyers in Montclair, Maplewood, or Bloomfield: the strategy hasn't changed. Budget 6–10% above asking, don't request repairs on competitive listings, and treat every offer as if there are 5 others on the table.
Hudson: The Reversal Explained
This is the number that will grab attention: Hudson County went from $753K (+9.5% YoY) in April to $683K (-5.8% YoY) in May. That's a $70K drop in median price and a 15-percentage-point swing in YoY growth in a single month.
Before reading that as a price crash, consider what the other indicators are telling you. DOM is 45 days — steady. Sale-to-list is 100.2% — essentially at asking. Active listings grew only modestly (2,259 vs. 2,155 in April). There is no sign of demand collapsing.
The likely explanation is mix shift. Median price is a function of which homes closed in a given month, not just what the market is doing to prices. In May, Hudson likely closed a higher proportion of smaller units and lower-tier condos relative to April's larger, waterfront-skewing mix. That drags the median down without any individual property losing value.
That said, Hudson's health score of 13/100 is the lowest in the state by a significant margin — and that does reflect something real: high absorption time relative to supply, modest sale-to-list ratios, and the structural affordability challenge of a $683K median. Jersey City and Hoboken remain strong submarkets. The county average is being pulled by outer neighborhoods that don't have the same demand profile.
Passaic & Mercer: The Quiet Performers
Passaic County had one of the most dramatic DOM improvements in the dataset: median days on market dropped to 30 days — down from 39 in April and one of the biggest compressions in a single month. Price is $606K (+2.7% YoY) with a 104.0% S/L ratio and 1,229 active listings. Health score is 48 — just inside Buyer's Market territory, but the direction of travel is clearly toward balance.
Mercer County (Princeton corridor) posted $479K (+5.2% YoY) — a meaningful acceleration from April's +0.5%. DOM is 41 days and the S/L ratio is 100.3%. At 1,373 listings, Mercer has enough supply to give buyers time, but the 5%+ YoY appreciation suggests the affordability advantage relative to Morris and Somerset is attracting more competition.
Ocean: The $50K Jump
Ocean County is the most eye-catching price move of the month: $517K median in May, up from $467K in April — a $50K jump in a single month. YoY is now +6.8%, swinging from what was the slowest-appreciating large county in April.
The below-asking dynamic has nearly closed: S/L sits at 99.5% in May vs. 98.7% in April. Ocean still has the highest inventory in the state at 3,800 active listings, and DOM tightened to 28 days (from 34 in April). This doesn't look like a market that's softening — the higher-priced spring inventory is simply clearing.
Shore buyers who were counting on Ocean as the "leverage market" now have $50K less room to work with than they did six weeks ago. It's still the most supply-rich county in NJ — but the gap between Ocean and the rest of the state is narrowing.
Inventory: Where Buyers Have Options
Three counties have meaningful supply depth:
Bergen County leads with 3,522 active listings — and buyers are getting more time: DOM tightened to 63 days (from 68 in April), but S/L jumped to 104.2%, the highest Bergen reading in months. The narrative is shifting. More inventory and higher sale-to-list ratios means buyers still have selection, but competitive offers are getting closer to the norm. $788K median, +4.7% YoY.
Middlesex County has 3,156 listings, 64-day DOM, and a -2.1% YoY price. This is still the most buyer-friendly county by the numbers. Over-asking is modest (101.1%). But DOM expanding (+10% YoY) and price declining signals that supply is genuinely outpacing local demand — particularly in New Brunswick and less-connected suburban pockets.
Ocean County at 3,800 listings and Somerset at 1,041 remain the poles of the inventory spectrum. Somerset's supply constraint keeps it moving at 20-day DOM despite a modest -1.5% YoY price dip — likely mix shift rather than a real softening trend.
Full County Breakdown — May 2026
| County | Median Price | YoY | DOM | Sale/List | Listings | Score |
|---|---|---|---|---|---|---|
| Bergen | $788K | +4.7% | 63 days | 104.2% | 3,522 | 37 — Buyer's |
| Burlington | $389K | -0.3% | 31 days | 100.9% | 1,852 | 38 — Buyer's |
| Essex | $723K | +3.3% | 29 days | 108.7% | 2,276 | 51 — Balanced |
| Hudson | $683K | -5.8% | 45 days | 100.2% | 2,259 | 13 — Buyer's |
| Mercer | $479K | +5.2% | 41 days | 100.3% | 1,373 | 44 — Buyer's |
| Middlesex | $538K | -2.1% | 64 days | 101.1% | 3,156 | 19 — Buyer's |
| Monmouth | $723K | +2.5% | 19 days | 101.4% | 2,442 | 51 — Balanced |
| Morris | $748K | +9.8% | 16 days | 105.8% | 1,456 | 75 — Seller's |
| Ocean | $517K | +6.8% | 28 days | 99.5% | 3,800 | 50 — Balanced |
| Passaic | $606K | +2.7% | 30 days | 104.0% | 1,229 | 48 — Buyer's |
| Somerset | $636K | -1.5% | 20 days | 103.7% | 1,041 | 45 — Buyer's |
| Union | $720K | +10.8% | 19 days | 105.0% | 1,258 | 73 — Seller's |
What to Watch in June
Can Union hold +10% YoY? That's an aggressive number. If June closes with the same inventory profile (flat supply, continued demand), the appreciation is real. If we see a supply surge into summer, expect the YoY to moderate.
Morris staying at 16 days. Three consecutive months at sub-20-day DOM is unusual for any NJ county outside of peak spring. If Morris sustains this pace into June, it's structural — not seasonal. First-time buyers in that market may want to reconsider their timeline.
Hudson's trajectory. The health score of 13 is the number to watch. If June brings another low-single-digits score, the supply/demand imbalance is real and worsening. If it bounces back toward 30+, May's reading was noise.
Inventory in Bergen and Middlesex. Both counties are adding listings faster than buyers are absorbing them (Bergen +5.5%, Middlesex +17.4% YoY). If that trend continues into summer, prices in both could see real softening — not just mix-shift noise.
Find Your County
All 12 county dashboards are updated with May 2026 data — 13-month price charts, DOM trends, inventory levels, price per sqft by city, and market health analysis.
- Morris County — 16-day DOM, 105.8% S/L, Seller's Market
- Union County — +10.8% YoY, 19-day DOM, Seller's Market
- Essex County — 108.7% sale-to-list, fastest appreciation in spring
- Passaic County — 30-day DOM, significant compression from April
- Monmouth County — $723K, 19-day DOM, balanced and moving fast
- Ocean County — $517K (+$50K from April), highest inventory in state
- Bergen County — 3,522 listings, most buyer selection, S/L rising
- Somerset County — 20-day DOM, tightest supply outside Morris
- Mercer County — Princeton corridor, +5.2% YoY picking up steam
- Hudson County — median dip likely mix shift; watch June
- Middlesex County — most inventory, longest DOM, buyer's market
- Burlington County — $389K entry point, 31-day DOM
Related Reading
- NJ Real Estate Market Report — April 2026 — last month's full data for comparison
- Best NJ Towns for NYC Commuters — Morris and Union County commuter towns featured
- NJ Closing Costs: What to Expect — budget the full picture before you offer in a competitive market
Market data sourced from Redfin Data Center, May 2026. All information is deemed reliable but not guaranteed. Past market trends are not a guarantee of future performance. Mahesh Sangisetty | NJ Licensed Realtor #2334343 | Boutique Realty