07112 — Essex County, New Jersey Market Snapshot
Housing market data for zip code 07112 in Essex County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
26 sales in 2026 (year to date)
Median Sale Price
$650,000
Days to Sell
105
Homes Sold
26
Inventory
51
Sale-to-List
105.0%
New Listings
45
Price/SqFt
$222
Pending Sales
47
Conforming Loan Available
Most homebuyers in 07112 can comfortably use conventional financing. The median home price of $650,000 is well below the 2026 conforming loan limit of $1,209,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
With homes sitting for 105 days on average, 07112 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
Homes in 07112 are selling 5.0% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 07112 can comfortably use conventional financing. The median home price of $650,000 is well below the 2026 conforming loan limit of $1,209,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 07112 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 07112
To purchase the median home at $650,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $5,130.
Monthly Payment
$5,130
Income Required
$219,861
Principal & Interest
$4,005/mo
Down Payment (5%)
$32,500
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 07112.
Estimated Monthly Payment
$4,173
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