Is Somerset, NJ 08873 a buyer’s or seller’s market?

The Somerset housing market right now

In the three months ending August 31, 2026, 58% of homes in Somerset, NJ 08873 sold above their list price, the typical home went under contract in 25 days and there were 2.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 148 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 67%, homes sold about as fast and the median sale price fell 10% to $529,771. Overall, Somerset is less competitive than a year ago, which gives buyers more room.

Within Somerset County, homes here sell more slowly than in 77% of the county’s ZIP codes, and sell less often over asking than in 68%. On our competition score, Somerset ranks #148 of 444 NJ ZIP codes with enough sales (score 85 out of 100).

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.