07960 — Morris County, New Jersey Market Snapshot
Housing market data for zip code 07960 in Morris County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
88 sales in 2026 (year to date)
Median Sale Price
$982,000
Days to Sell
16
Homes Sold
88
Inventory
82
Sale-to-List
106.5%
New Listings
181
Price/SqFt
$445
Pending Sales
130
Conforming Loan Available
The median home in 07960 at $982,000 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
Homes in 07960 are moving quickly at 16 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes in 07960 are selling 6.5% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
The median home in 07960 at $982,000 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 07960 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 07960
To purchase the median home at $982,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $7,674.
Monthly Payment
$7,674
Income Required
$328,876
Principal & Interest
$6,051/mo
Down Payment (5%)
$49,100
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 07960.
Estimated Monthly Payment
$6,227
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