New Providence, NJ Housing Market Snapshot: $1,192,500 Median Sale Price, 17-Day Pace, 5.98% 30-Year Rate
New Providence, NJ – March 3, 2026 – Redfin’s January snapshot showed a $1,192,500 median sale price and a 17-day median time to sell, while Freddie Mac reported a 5.98% average…
Redfin’s January 2026 snapshot for New Providence, NJ points to a high-priced market moving quickly as the spring season approaches, with strong competition shaping outcomes for both buyers and sellers.
Key numbers (January 2026)
- Median sale price: $1,192,500 (+30.3% year over year).
- Median price per sq ft: $616 (+41.0% year over year).
- Median time to sell: 17 days.
- Closed sales: 10 homes sold (vs. 12 a year earlier).
Competitive dynamics
Redfin characterizes the area as “most competitive.” In practice, that often means multiple-offer situations and limited room for hesitation. The same snapshot notes homes selling for about 8% over list on average, reinforcing how quickly well-positioned listings can attract bids.
Rate context and what to watch
On the financing side, Freddie Mac’s weekly Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage averaging 5.98% for the week ending Feb. 26, which may matter for shoppers comparing monthly payments as prices remain elevated.
For buyers, new inventory and timing can be decisive in a fast market; for sellers, recent comparable sales and pricing strategy still play a major role even when demand is strong.