Is Budd Lake, NJ 07828 a buyer’s or seller’s market?

The Budd Lake housing market right now

In the three months ending August 31, 2026, 81% of homes in Budd Lake, NJ 07828 sold above their list price, the typical home went under contract in 17 days and there were 2.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 32 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 84%, homes sold about as fast and the median sale price rose 9% to $624,730. Overall, Budd Lake is less competitive than a year ago, which gives buyers more room.

Within Morris County, homes here sell faster than in 63% of the county’s ZIP codes, and sell more often over asking than in 87%. On our competition score, Budd Lake ranks #73 of 444 NJ ZIP codes with enough sales (score 91 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.