Is Elizabeth, NJ 07202 a buyer’s or seller’s market?

The Elizabeth housing market right now

In the three months ending August 31, 2026, 75% of homes in Elizabeth, NJ 07202 sold above their list price, the typical home went under contract in 39 days and there were 4.3 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 25 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 41%, homes sold more slowly (28 days then) and the median sale price rose 30% to $760,421. Overall, Elizabeth is more competitive than a year ago, so tougher for buyers.

Within Union County, homes here sell more slowly than in 88% of the county’s ZIP codes, and sell more often over asking than in 72%. On our competition score, Elizabeth ranks #239 of 444 NJ ZIP codes with enough sales (score 76 out of 100).

Nearby, buyers who want less competition could look at Elizabethport 07206 (58% sold over asking) or Linden 07036 (59% sold over asking), while New Providence 07974 (91% sold over asking) and Berkeley Heights 07922 (85% sold over asking) are even more competitive.