Housing in Summit, NJ
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Redfin — January 2026Median Sale Price
$1,857,777
Median List Price
$1,350,000
Price Per Sq Ft
$740
Days on Market
18
Active Inventory
16
Months of Supply
2.0
Seller's market
Zillow Home Value
$1,299,787
ZHVI — January 2026
Zillow Rent Index
$3,052
ZORI — January 2026
Price Trends
Source: RedfinMarket Competitiveness
Source: RedfinSold Above List
75.0%
Off Market in 2 Weeks
100.0%
Sale-to-List Ratio
108.5%
Seller's market
Market Activity
Source: RedfinHomes Sold
8
New Listings
14
Pending Sales
6
Price Per Square Foot
Source: RedfinMedian Sale $/SF
$740
Median List $/SF
$606
Summit vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with 10,000 - 25,000 residents. Summit is highlighted.
Median Home Value
Median Rent
Median Price Per Sq Ft
Rent Burden
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$969,900
Median Rent
$2,308
Total Housing Units
8,603
Vacancy Rate
5.5%
Owner Occupied
71.8%
Renter Occupied
28.2%
Median Property Tax
$10,001
per year
Monthly Cost (w/ Mortgage)
$3,658
Housing Types
The current median sale price in Summit, NJ is $1,857,777 according to Redfin data. Homes spend a median of 18 days on the market. 75.0% of homes sold above asking price. The market has 2.0 months of supply. The median price per square foot is $740. Zillow's observed rent index is $3,052/month. About 71.8% of housing units are owner-occupied. The median year homes were built is 1953. There are 8,603 total housing units.