Summit NJ Real Estate Market Report 2025

A closer look at a high-competition commuter market heading into 2026

Summit’s real estate market in 2025 was shaped by one defining characteristic: momentum. More homes sold, prices climbed meaningfully, and buyer competition remained intense throughout the year—especially for properties that checked the right boxes.

For Summit homeowners, this created an environment where demand stayed active and pricing power held firm. For buyers relocating from New York City, Hoboken, or Jersey City, it reinforced Summit’s reputation as a commuter town where decisiveness matters and well-prepared buyers tend to win.

This report breaks down how Summit’s market behaved in 2025 and what those patterns suggest as we move through 2026—focusing on sales velocity, competition, and the factors that continue to drive activity in this market.

Looking for a deeper understanding of how Summit’s neighborhoods, pricing tiers, and recent sales activity compare? Explore our Summit real estate and lifestyle guide for a broader local view.

Summit Market Snapshot: 2025 Highlights

The Summit housing market in 2025 showed strength through both price growth and transaction volume.

Key 2025 Metrics

• Average sale price: $1,705,405

• Homes sold: 242

• Average days on market: 18 days

• Sale-to-list price ratio: 109.04%

• Average active listings: 23

Homes moved quickly and continued to sell above asking on average, reinforcing Summit’s position as a competitive, fast-moving market.

How Summit Changed From 2024 to 2025

Summit’s year-over-year data points to a market that didn’t just hold steady—it accelerated.

What shifted between 2024 and 2025

• Average sale price increased just over 10%

• Total home sales rose by more than 27%

• Days on market remained low despite higher transaction volume

• Over-asking sales remained the norm

This combination matters. Higher prices alone can be misleading, but higher prices paired with more closings suggest sustained demand across the buyer pool.

Expert Insight: What Drove Summit’s Market Momentum in 2025

According to Saritte Harel, a top-ranked New Jersey Realtor and a RealTrends America’s Best Real Estate Agent (2014–2024), Summit’s 2025 market reflected the realities of a high-competition commuter town.

“Summit is a market where preparation and decisiveness matter,” Saritte notes. “In 2025, buyers who understood the pace and were ready to act quickly were the ones who succeeded. That competitive dynamic continues to define Summit heading into 2026.”

What This Means for Summit Homeowners

For Summit homeowners, the 2025 data reinforces a key takeaway: demand remained deep enough to support both strong pricing and higher sales volume.

Important considerations:

• Competitive conditions continued to favor sellers who priced thoughtfully

• Homes that aligned with buyer expectations moved quickly

• Increased transaction volume signals confidence, not volatility

As 2026 unfolds, understanding how buyers behaved in 2025 can help homeowners plan timing, preparation, and positioning more effectively.

Before making any decisions, it can be helpful to review how recent Summit sales compare by neighborhood, home style, and price range.

Why Summit Continues to Attract City Buyers

Summit remains a popular destination for city-based buyers because it combines commuter access with a competitive housing environment.

Buyers relocating from New York City, Hoboken, or Jersey City are often drawn to:

• Summit’s reputation as a strong train town

• A walkable downtown that supports daily life

• Housing stock that ranges from classic homes to renovated properties

What sets Summit apart is that interest doesn’t just exist—it translates into action, as reflected in fast timelines and consistent over-asking sales.

Inventory, Competition, and Sales Velocity

Summit’s 2025 data highlights a market that absorbed inventory efficiently:

• Active listings increased modestly, supporting more transactions

• Under-contract activity remained strong throughout the year

• Homes that missed buyer expectations experienced longer timelines

Velocity remained one of Summit’s defining traits, with buyers moving quickly when the right opportunity appeared.

What 2025 Suggests for Summit Sellers in 2026

While no market is static, Summit’s 2025 performance offers a useful baseline:

• Buyers remain competitive but discerning

• Pricing accuracy continues to matter

• Preparation influences speed and outcome

For sellers considering a move in 2026, aligning expectations with current buyer behavior will remain essential.

Summit Real Estate FAQs

Is Summit a good place to live in 2026?
Yes. Summit continues to attract buyers due to its commuter access, downtown lifestyle, and long-term demand.

Are homes in Summit still selling over asking?
On average, yes. In 2025, homes sold for approximately 109% of list price, reflecting ongoing competition.

Is Summit a good option for NYC or Hoboken buyers?
For buyers seeking a commuter town with strong activity and walkability, Summit remains a compelling option.

Looking Ahead

As 2026 continues, Summit remains defined by competition, momentum, and decisiveness. Whether you are evaluating your home’s position or planning a move from the city, understanding these dynamics provides a meaningful advantage.

Ready to Talk Through Summit?

Data is useful, but context matters. Understanding how these trends apply to a specific home or buying plan can make next steps clearer.If you’d like to talk through how Summit’s current market conditions relate to your plans, The Saritte Harel Team is available as a resource.