Is Millburn, NJ 07041 a buyer’s or seller’s market?

The Millburn housing market right now

In the three months ending August 31, 2026, 79% of homes in Millburn, NJ 07041 sold above their list price, the typical home went under contract in 15 days and there were 2.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 20 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 61%, homes sold about as fast and the median sale price rose 17% to $1,573,319. Overall, Millburn is more competitive than a year ago, so tougher for buyers.

Within Essex County, homes here sell faster than in 83% of the county’s ZIP codes, and sell more often over asking than in 80%. On our competition score, Millburn ranks #58 of 444 NJ ZIP codes with enough sales (score 93 out of 100).

Nearby, buyers who want less competition could look at Newark 07102 (25% sold over asking) or Essex Fells 07021 (33% sold over asking), while Glen Ridge 07028 (100% sold over asking) and Montclair 07043 (94% sold over asking) are even more competitive.