07079 — Essex County, New Jersey Market Snapshot
Housing market data for zip code 07079 in Essex County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
37 sales in 2026 (year to date)
Median Sale Price
$1,123,000
Days to Sell
12
Homes Sold
37
Inventory
13
Sale-to-List
111.7%
New Listings
62
Price/SqFt
$455
Pending Sales
65
Conforming Loan Available
The median home in 07079 at $1,123,000 falls within the 2026 conforming loan limit of $1,209,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Market Insights
Market Temperature
07079 is an extremely competitive market with homes selling in just 12 days on average. Buyers need pre-approval letters ready before making offers.
Sale-to-List Ratio
Homes in 07079 are selling 11.7% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
The median home in 07079 at $1,123,000 falls within the 2026 conforming loan limit of $1,209,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Loan limits in 07079 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 07079
To purchase the median home at $1,123,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $8,754.
Monthly Payment
$8,754
Income Required
$375,174
Principal & Interest
$6,920/mo
Down Payment (5%)
$56,150
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 07079.
Estimated Monthly Payment
$7,100
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