Summit New Jersey Real Estate Trends: September 2025 Market Report and Lifestyle Guide

A Market Holding Strong Despite More Choice

Summit’s housing market continued to show confidence in September 2025, though a slight moderation is taking shape. The average sale price remains one of the highest in Union County at $1.714M, up 16.3% year over year. Inventory and contract activity both increased, giving buyers more to choose from, yet demand remains steady enough to keep homes selling quickly and near or above list price.

Homes are spending an average of 19 days on market, down slightly from August’s 24-day average, showing that well-priced listings still move fast even as competition grows.

Compare how trends differ from nearby towns in the September Short Hills Market Report and September Livingston Market Report

Local Market Snapshot September 2025

Average Listing Price: $1,626,809
Average Sold Price: $1,714,000 (up 16.3% YoY)
Sale Price to List Price Ratio: 106.68%
Homes Sold: 22 in September | 184 year to date (up 22.7% YoY)
Average Days on Market: 19 in September (flat year to date at 18)
Active Listings: 17 (down from 19 in August)
Under Contract: 36 listings, averaging 22 days on market

These metrics reflect a market that remains robust but more balanced. Inventory growth has introduced greater selectivity among buyers, while competitive pricing continues to reward sellers with strong results.

How Different Price Ranges Performed in September

Under $1M
Condos and smaller homes remain quick sellers. 133 Summit Avenue Unit 25 sold 1% above ask after just one day, while 30 Elm Street closed slightly above list at $500,000 in 10 days.

$1M–$1.5M
This segment saw strong movement. 9 Hawthorne Place drew multiple offers and closed 35% over ask, while 25 Locust Drive sold 22% above list after 12 days.

$1.5M–$2M
Buyers remain active for updated Colonials. 11 Hickory Road achieved 18% over list, and 1 Harrison Court closed 15% above ask after under two weeks on market.

$2M–$3M
Results vary depending on location and finish level. 12 Arden Place sold 8% over ask at $2.8M, while 38 Miele Place closed 5% below list after 73 days.

Above $3M
Selective but stable. 14 Argyle Court sold at full price, and 57 Prospect Hill Avenue closed at $4.6M, 6% below list

Key Takeaways from the September 2025 Data

Summit continues to perform exceptionally well compared with the wider region. Prices are up double digits year over year, and the number of homes sold has increased by more than 20%. At the same time, the rise in inventory is giving buyers a slightly longer window to act. Homes under $2M remain the most competitive, regularly drawing multiple offers and selling above asking. Above $3M, buyers are more measured, but standout properties in premier neighborhoods are still commanding strong results. This mix of steady demand and selective buying is what defines a balanced, sustainable market, one that rewards strategic pricing and presentation.

Buyer and Seller Insights

For Buyers
● The number of active listings is holding steady, giving you more choice across price ranges.
● Average sale prices remain strong, but homes above $2M may offer negotiation room.
● Expect fast movement in listings under $1.5M — act quickly when the right home appears.

For Sellers
● The average sale price rose 16% year over year, with the average home selling for 106.68% of list.
● Well-staged homes under $2M continue to generate multiple offers within two weeks.
● Even with higher inventory, pricing accuracy remains the single biggest driver of success.

Market Outlook for Fall 2025

Looking ahead, Summit’s real estate market is expected to remain active through the fall months. Rising inventory may temper bidding activity slightly, but buyer demand continues to be driven by location, schools, and lifestyle quality. Sellers can still capitalize on strong pricing by listing before the year-end slowdown. Buyers should stay prepared — Summit’s best homes continue to move fast, especially those near the train line and downtown amenities.

Featured Listings in Summit and Beyond

Discover the latest listings across Summit and surrounding towns. From renovated Colonials to luxury estates, these properties highlight the variety of housing options available this fall.

View Featured Listings

About Summit, NJ

Summit is one of Union County’s most desirable communities, located roughly 20 miles from Manhattan. Known for its tree-lined streets, historic architecture, and walkable downtown, Summit attracts buyers seeking both sophistication and convenience. Residents enjoy access to Summit Public Schools, a top-performing district in New Jersey, and proximity to cultural landmarks like the Summit Playhouse, Reeves-Reed Arboretum, and the Visual Arts Center of New Jersey. Midtown Direct train service provides a quick commute to New York City, adding to Summit’s enduring appeal. Learn more about local living in Summit here

FAQs: Summit Market Insights September 2025

Q: How did Summit’s housing market perform this September?
A: The average sale price rose 16% year over year to $1.714M, showing continued strength and demand.

Q: Are homes still selling above list price?
A: Yes. The average sale-to-list ratio was 106.68%, and many properties closed 10–30% over asking.

Q: What price ranges are most competitive right now?
A: Listings under $2M remain the fastest-moving segment, with most selling in under two weeks.

Q: How long are homes taking to sell?
A: The average is 19 days on market in September, consistent with summer levels.

Q: Is Summit seeing more inventory?
A: Yes, inventory rose year over year, giving buyers more flexibility without weakening prices.

Q: Should sellers list now or wait for spring?
A: Listing now allows sellers to take advantage of active fall buyers before seasonal inventory increases again.

Ready to Make a Move

Whether you are preparing to sell your Summit home or searching for your next one, The Saritte Harel Team provides the expertise and insight that turn market knowledge into measurable results.

Ranked among the Top 5 Realtors in New Jersey and the Top 1.5% nationwide, our team delivers the precision and performance today’s market demands.

Connect with us today for a personalized consultation or complimentary home value analysis.

Follow @saritteharelteam for exclusive listings and real-time market updates.