Is Elizabeth, NJ 07208 a buyer’s or seller’s market?

The Elizabeth housing market right now

In the three months ending August 31, 2026, 63% of homes in Elizabeth, NJ 07208 sold above their list price, the typical home went under contract in 41 days and there were 3.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 39 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 67%, homes sold more slowly (35 days then) and the median sale price rose 11% to $628,228. Overall, Elizabeth is less competitive than a year ago, which gives buyers more room.

Within Union County, homes here sell more slowly than in 92% of the county’s ZIP codes, and sell less often over asking than in 72%. On our competition score, Elizabeth ranks #243 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.