Is Butler, NJ 07405 a buyer’s or seller’s market?

The Butler housing market right now

In the three months ending August 31, 2026, 63% of homes in Butler, NJ 07405 sold above their list price, the typical home went under contract in 19 days and there were 2.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 54 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (64% then), homes sold faster (60 days then) and the median sale price rose 2% to $668,711. Overall, Butler is more competitive than a year ago, so tougher for buyers.

Within Morris County, homes here sell more slowly than in 57% of the county’s ZIP codes, and sell less often over asking than in 59%. On our competition score, Butler ranks #111 of 444 NJ ZIP codes with enough sales (score 88 out of 100).

Nearby, buyers who want less competition could look at Hibernia 07842 (0% sold over asking) or New Vernon 07976 (20% sold over asking), while Kenvil 07847 (100% sold over asking) and Mount Tabor 07878 (100% sold over asking) are even more competitive.