07045 — Morris County, New Jersey Market Snapshot
Housing market data for zip code 07045 in Morris County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
12 sales in 2026 (year to date)
Median Sale Price
$752,500
Days to Sell
11
Homes Sold
12
Inventory
13
Sale-to-List
108.4%
New Listings
40
Price/SqFt
$340
Pending Sales
35
Conforming Loan Available
Most homebuyers in 07045 can comfortably use conventional financing. The median home price of $752,500 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
07045 is an extremely competitive market with homes selling in just 11 days on average. Buyers need pre-approval letters ready before making offers.
Sale-to-List Ratio
Homes in 07045 are selling 8.4% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 07045 can comfortably use conventional financing. The median home price of $752,500 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 07045 are set at the county level.
2026 Loan Limits — Morris 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 07045
To purchase the median home at $752,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $5,915.
Monthly Payment
$5,915
Income Required
$253,518
Principal & Interest
$4,637/mo
Down Payment (5%)
$37,625
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 07045.
Estimated Monthly Payment
$4,807
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