Summit, NJ—07901
Real Estate Data & Market Trends
Key Metrics at a Glance
Median Home Value
$1,273,000
6.2% YoY Growth
Household Income
$178,000
27.2% YoY Growth
Days on Market
71
12.0% Longer YoY
Home Price Forecast
2.6%
Median Rent
$3,200
5.7% YoY Growth
1-Bed Rent
$2,450
21.0% YoY Growth
2-Bed Rent
$3,000
1.0% YoY Growth
3-Bed Rent
$3,500
0.8% YoY Growth
Home Price Trends — Summit, NJ
As of Dec '25, the median home price in Summit, NJ is $1,273,000, with a year-over-year change of 6.2%. This indicates that home prices in Summit, NJ are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,273,000 | 6.2% |
| Single Family | $1,342,000 | 7.4% |
| Condos | $584,000 | 4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed |