07924 — Somerset County, New Jersey Market Snapshot
Housing market data for zip code 07924 in Somerset County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
15 sales in 2026 (year to date)
Median Sale Price
$858,400
Days to Sell
12
Homes Sold
15
Inventory
18
Sale-to-List
108.4%
New Listings
34
Price/SqFt
$422
Pending Sales
24
Conforming Loan Available
Most homebuyers in 07924 can comfortably use conventional financing. The median home price of $858,400 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
07924 is an extremely competitive market with homes selling in just 12 days on average. Buyers need pre-approval letters ready before making offers.
Sale-to-List Ratio
Homes in 07924 are selling 8.4% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 07924 can comfortably use conventional financing. The median home price of $858,400 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 07924 are set at the county level.
2026 Loan Limits — Somerset 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 07924
To purchase the median home at $858,400 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $6,727.
Monthly Payment
$6,727
Income Required
$288,291
Principal & Interest
$5,289/mo
Down Payment (5%)
$42,920
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 07924.
Estimated Monthly Payment
$5,462
Connect with a LoanGraphs Loan Officer
Get expert guidance for zip code 07924. Tell us what you're looking for.