Summit Playhouse · Photo: Jim.henderson · Public domain223 homes sold in Summit in the last year, at a typical $1.5M
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Summit homes are listed.
Every place Summit homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Summit.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 96% of Summit’s sales, at a typical $1.6M
223 homes sold in the year to May 2026.
typical sale · 214 sold in 12 months
- Per square foot
- $713NJ $331
- Days to sell
- 15
- Sold over asking
- 68%
- Listings with a price cut
- 11%
Multi-family (2–4 units): 8 sold, typical $1M
Condos: 1 sold, typical $1.5M
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2022, at twice the 2016 price
223 sales in the last year, against 426 in 2021 and a low of 200 in 2024. The typical sale went from $777K in 2016 to $1.5M.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $1.6M buys in Summit
Check a listing against what Summit homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Summit are more common than before the pandemic, but 84% fewer homes come up for sale
We read every month of Summit’s home sales since 2016 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 223 sales.
If you’re buying in Summit
- Shop in February. It brings about 36 new listings a month, close to the busiest month, with fewer bidding wars (33% over asking).
- Less room to haggle. Only 11% of listings cut their price, against 17% before the pandemic.
- Expect to bid over asking. Buyers paid 108.9% of the list price on average; 69% paid over.
- Move fast on good ones. 45% of homes are under contract within two weeks.
Spring brings both the most homes and the most bidding wars
May has the most new listings (about 44 a month), and the most competition: 52% close over asking. February and March offer nearly as much choice with fewer homes bid up (33%). December has the least competition (33%) but only about 9 new listings.
Averages for each calendar month, 2015 on.
Hotter than in 2021, and hotter than New Jersey
| Summit now | 2017–19 | 2021 peak | NJ now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 69% | 24% | 44% | 48% |
| Gone within two weeksShare of homes under contract within 14 days | 45% | 2% | 3% | 31% |
| Listings with a price cutShare of homes for sale that cut their price | 11% | 17% | 9% | 17% |
| Price paid vs. askingAverage sale price ÷ list price | 108.9% | 98% | 101.2% | 101.2% |
| Days to sellMedian days from listing to contract | 15 | 96 | 80 | 45 |
20 homes for sale on a typical day
That’s 84% fewer than in 2017–19 and well under 2019’s 136.
1 in 9 listings has cut its price
11% in the last year, against 17% in 2017–19 and 17% across New Jersey.
Summit ranks 37th of 299 busy New Jersey markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Summit is one of the state’s hottest markets.
Source: Redfin Data Center, city market tracker, January 2016 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Five things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 9.
Best time to buySchools
The schools grade for Summit, from test results, graduation and how much students grow.
Schools in SummitCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Springfield Township, Mountainside, New Providence and Madison sell for less a square foot
The busier markets within 25 miles of Summit, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Madison | 255 | $957K | $427 | 62% | 31 |
| Summit | 223 | $1.5M | $708 | 69% | 15 |
| Short Hills | 149 | $2.3M | $718 | 55% | 26 |
| New Providence | 129 | $1.1M | $523 | 71% | 16 |
| Chatham | 93 | $1.3M | $713 | 80% | 18 |
| Mountainside | 61 | $1.1M | $423 | 59% | 22 |
| Springfield Township | 31 | $529K | $265 | 55% | 60 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Summit, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Summit. People who follow the town see it, and so do people comparing Summit with their own town. No commission, no listing fee.
Questions about buying a home in Summit
What do homes sell for in Summit, NJ?
223 homes sold in the year to May 2026 at a typical $1.5M, $708 a square foot.
Is Summit a buyer’s or seller’s market?
A seller’s market: 18 homes were for sale in May 2026 and 15 sold, about 1.2 months of supply. Buyers paid 108.9% of asking on average, and 11% of listings cut their price.
When is the best time to buy in Summit?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
Where can I see homes for sale in Summit?
Zillow, Redfin, Realtor.com and Homes.com all carry Summit’s MLS listings; the search links above open each one filtered to Summit.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).