Early October 2026. By Nancy Chu, Nancy Chu Homes.
Here is the fast version for anyone buying or selling in West Essex right now. Inventory is tight in the small towns and deep in Bloomfield, the homes that are priced right are selling in about two weeks and often well over asking, and the homes that are sitting are almost all priced to a number the market has not agreed to. Across all six towns, one thing holds: the list price is a marketing number, not the price. Here is what each town did this week and what it means for you.
Glen Ridge
Glen Ridge is down to just 5 homes for sale, with 11 already under contract and 20 recent sales that closed at a median 123% of list price in a median of 14 days. After a year of one or two listings that built up to eight or nine this fall, the borough has thinned right back out, and four of the five homes for sale came on in just the last eleven days.
The standout: 65 Hawthorne Avenue listed at $899,000 and closed at $1,365,000, 152% of list, in 10 days. That is the whole lesson of this market. A home listed under a million was never a million-dollar house, and in a market this thin the number that wins is set by the buyers in the room, not by the sticker.
If you are buying in Glen Ridge, the free Glen Ridge buyers guide breaks down how to read the list price and how to win here.
The Caldwells
Across North Caldwell, West Caldwell, and Caldwell Borough there are 21 homes for sale, 24 under contract, and 44 recent sales that closed at a median 104% of list price in a median of 20 days. For the second week running, more homes are under contract than are for sale. That is not a slow market, it is a market that got honest about price.
Look at the active listings and you see two markets at once. Of the 21 homes for sale, 14 have been listed under 25 days, and the other 7 have been sitting between 62 and 168 days. The fast ones were priced right. 32 Natalie Drive listed at $799,000 and closed at $875,000, 110% of list, in 15 days. The ones sitting guessed high and are waiting for the market to agree.
Bloomfield
Bloomfield has the deepest selection of homes of any town around here, 43 active listings, plus 35 under contract and 62 recent sales that closed at a median 110% of list price in a median of 15 days. Even with all that choice, the median home for sale has only been listed about 18 days, so it is a deep but fresh set of listings.
Bloomfield is not one market. This week a $499,000 home on Corsi Road closed at $587,000, 118% of list, while a $959,000 home on Bellevue Avenue, nearly twice the price, closed at $1,050,000, 109% of list. The cheaper house bid harder and sold faster. A home in the four-hundreds and a home near a million behave completely differently here, so the list price is bait, not your ceiling.
The free Bloomfield buyers guide shows which price band your budget actually puts you in.
Verona
Verona stayed tight this week at 12 homes for sale, 10 under contract, and 30 recent sales that closed at a median 114% of list price in a median of 15 days. Nine of the twelve homes for sale came on in the last month, and only three have been sitting since the summer. When something lands here priced right, it does not last.
The premiums are holding at every price point. 15 Afterglow Avenue listed at $1,199,000 and closed at $1,414,000, 118% of list, and at the entry level 32 Hamilton Road listed at $495,000 and closed at $550,000, 111% of list, in 14 days.
If Verona is on your list, do not walk in blind. The free Verona buyers guide lays out the neighborhoods, the commute, and what your money actually buys here.
Montclair
Montclair is still running hot: 30 homes for sale, 20 under contract, and 76 recent sales that closed at a median 122% of list price in a median of 16 days. Twenty-five of the thirty homes for sale were listed within the last month, so this market moves quickly.
The number that tells the story: 51 Gray Street listed at $899,000 and closed at $1,310,000, 146% of list, in 14 days, and 54 Aubrey Road closed at $1,575,000, 150% of list. In a market clearing this far over ask, the mistake buyers make is setting their budget off the list price. Search right at your ceiling and everything you tour ends up over budget. Search below it.
The free Montclair buyers guide shows the number you should actually be searching at.
Millburn and Short Hills
Millburn and Short Hills are really two markets right now. The middle is moving fast: 20 Kean Road closed at $1,875,000, 118% of list, in 13 days, and 11 Cayuga Way, a $2,795,000 listing, closed at $3,155,000, 113% of list, in just 8 days. A three-million-dollar house, gone in eight days. Overall there are 32 homes for sale, 15 under contract, and 57 recent sales at a median 107% of list in a median of 13 days.
The homes that are sitting are concentrated at the very top. Four of the 32 homes for sale have been on the market 150 days or more, and the longest has sat 222 days. Priced right, Millburn moves. Priced to a number, it waits.
The one pattern across all six towns
Whether a town has five homes for sale or forty-three, the split is the same. The homes priced to the market sell fast and usually over asking. The homes priced to a number the seller picked sit for months. The list price is marketing, always. If you are a buyer, that means the list price is a starting point, not a ceiling, and you budget below your maximum because the market clears above the sticker. If you are a seller, it means pricing for attention beats pricing for ego every time.
Rates are high right now, near a three-year high, and that is thinning the buyer pool, which is actually the opening. Nobody is calling for a crash, but when rates ease the buyers who are sitting out come back and prices move with them. There are ways to keep the monthly payment manageable in the meantime, like an adjustable rate mortgage or buying down points, so ask your lender what fits. The short version: you can change the rate later, you cannot change the price you paid.
Frequently asked questions
Is the Essex County NJ housing market slowing down this fall?
Not in the way people mean. Inventory is tight in Glen Ridge, Verona, and Montclair and deep in Bloomfield, and well-priced homes are still selling in about two weeks, often over asking. Where homes are sitting, it is almost always a pricing problem, not a demand problem.
Why are homes selling over the list price?
In towns like Glen Ridge and Montclair, sellers and their agents often price below perceived value to generate competition, so the list price is a marketing number and the final price is set by the buyers who show up. This week Glen Ridge closings ran a median 123% of list and Montclair ran 122%.
Which Essex County town has the most homes for sale right now?
Bloomfield, with 43 active listings this week, the deepest selection of any town in the area. The Caldwells had 21, Millburn/Short Hills 32, Montclair 30, Verona 12, and Glen Ridge just 5.
How fast are homes selling?
Median days on market this week ran from about 13 days in Millburn to about 20 in the Caldwells. Correctly priced homes frequently went under contract in under two weeks. Overpriced homes sat 60 to 220 days.
Should I wait for mortgage rates to drop before buying?
Waiting for a lower rate often means paying a higher price, because when rates fall the buyers who are sitting out return and compete. You can refinance a rate later. You cannot refinance the price you paid. Talk to a lender about options that keep the payment manageable now.
How do I know what to actually budget in a market that sells over asking?
Budget below your maximum, because the market clears above the list price. The free town buyers guides for Glen Ridge, Bloomfield, Verona, and Montclair walk through exactly how to set that number for each town.
About Nancy Chu Homes
Nancy Chu Homes helps buyers and sellers across Essex County and the West Essex towns, including Glen Ridge, the Caldwells, Bloomfield, Verona, Montclair, and Millburn/Short Hills, with a focus on families relocating from New York City and Hoboken. Call or text 917-992-3098 or visit nancychuhomes.com.
Nancy Chu, Sales Associate NJ Real Estate License #0568990 KELLER WILLIAMS NJ Metro Group · License #1008274 Office: 973.783.7400 Each office is independently owned and operated.
