07039 — Essex County, New Jersey Market Snapshot
Housing market data for zip code 07039 in Essex County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
59 sales in 2026 (year to date)
Median Sale Price
$1,440,000
Days to Sell
40
Homes Sold
59
Inventory
64
Sale-to-List
103.6%
New Listings
112
Price/SqFt
$546
Pending Sales
78
Jumbo Loan Likely Needed
The median home in 07039 at $1,440,000 exceeds the 2026 conforming loan limit of $1,209,750 by $230,250. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Market Insights
Market Temperature
07039's market is balanced with homes taking an average of 40 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
Homes in 07039 are selling 3.6% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
The median home in 07039 at $1,440,000 exceeds the 2026 conforming loan limit of $1,209,750 by $230,250. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Loan limits in 07039 are set at the county level.
2026 Loan Limits — Essex County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $1,209,750 | $1,249,125 |
| 2 Units | $1,548,975 | $1,599,375 |
| 3 Units | $1,872,225 | $1,933,200 |
| 4 Units | $2,326,875 | $2,402,625 |
Affordability Snapshot — Zip 07039
To purchase the median home at $1,440,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $11,183.
Monthly Payment
$11,183
Income Required
$479,264
Principal & Interest
$8,873/mo
Down Payment (5%)
$72,000
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 07039.
Estimated Monthly Payment
$9,062
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