Is Far Hills, NJ 07931 a buyer’s or seller’s market?
Far Hills is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
Not ranked this month. Fewer than 15 sales in the 3-month window, so the numbers can swing too much to compare fairly. How the heat score works
The Far Hills housing market right now
In the three months ending August 31, 2026, 50% of homes in Far Hills, NJ 07931 sold above their list price, the typical home went under contract in 24 days and there were 4.8 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 10 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 33%, homes sold faster (99 days then) and the median sale price rose 54% to $1,743,246. Overall, Far Hills is more competitive than a year ago, so tougher for buyers.
Within Somerset County, homes here sell more slowly than in 73% of the county’s ZIP codes, and sell less often over asking than in 91%.
Nearby, buyers who want less competition could look at Warren 07059 (39% sold over asking) or Watchung 07069 (46% sold over asking), while Bedminster 07921 (80% sold over asking) and Raritan 08869 (79% sold over asking) are even more competitive.
Run the numbers for 07931
Nearby markets
Basking Ridge 07920Seller’s market $439 /sq ftBedminster 07921Seller’s market $456 /sq ftBelle Mead 08502Seller’s market $384 /sq ftBernardsville 07924Seller’s market $472 /sq ft Browse all markets →Towns like Far Hills nearby
Find towns like Far Hills in other states →Where Far Hills is
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Questions about Far Hills real estate
Is Far Hills a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Far Hills, NJ 07931 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Far Hills?
The typical home went under contract in 24 days in the latest three months.
Do homes in Far Hills sell over asking?
50% of homes sold above their original list price, and the typical sale closed at 105.3% of the list price.
What are property taxes in Far Hills?
About 1.23% of a home’s value a year in Far Hills Boro, Somerset County, or roughly $4,924 on a $400,000 home.
What is the median home price in Far Hills?
The median sale price was $1,743,246 in the three months ending August 31, 2026, about $477 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology