07981 — Morris County, New Jersey Market Snapshot
Housing market data for zip code 07981 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
$775,000
Days to Sell
17
Homes Sold
17
Inventory
4
Sale-to-List
103.8%
New Listings
20
Price/SqFt
$405
Pending Sales
17
Conforming Loan Available
Most homebuyers in 07981 can comfortably use conventional financing. The median home price of $775,000 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
Homes in 07981 are moving quickly at 17 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes in 07981 are selling 3.8% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 07981 can comfortably use conventional financing. The median home price of $775,000 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 07981 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 07981
To purchase the median home at $775,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $6,088.
Monthly Payment
$6,088
Income Required
$260,906
Principal & Interest
$4,775/mo
Down Payment (5%)
$38,750
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 07981.
Estimated Monthly Payment
$4,946
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