07853 — Morris County, New Jersey Market Snapshot
Housing market data for zip code 07853 in Morris County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
17 sales in 2026 (year to date)
Median Sale Price
$835,000
Days to Sell
13
Homes Sold
17
Inventory
11
Sale-to-List
109.0%
New Listings
40
Price/SqFt
$337
Pending Sales
30
Conforming Loan Available
Most homebuyers in 07853 can comfortably use conventional financing. The median home price of $835,000 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
07853 is an extremely competitive market with homes selling in just 13 days on average. Buyers need pre-approval letters ready before making offers.
Sale-to-List Ratio
Homes in 07853 are selling 9.0% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 07853 can comfortably use conventional financing. The median home price of $835,000 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 07853 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 07853
To purchase the median home at $835,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $6,548.
Monthly Payment
$6,548
Income Required
$280,607
Principal & Interest
$5,145/mo
Down Payment (5%)
$41,750
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 07853.
Estimated Monthly Payment
$5,318
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