07041 — Essex County, New Jersey Market Snapshot
Housing market data for zip code 07041 in Essex County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
19 sales in 2026 (year to date)
Median Sale Price
$1,450,000
Days to Sell
12
Homes Sold
19
Inventory
6
Sale-to-List
105.5%
New Listings
16
Price/SqFt
$798
Pending Sales
21
Jumbo Loan Likely Needed
The median home in 07041 at $1,450,000 exceeds the 2026 conforming loan limit of $1,209,750 by $240,250. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Market Insights
Market Temperature
07041 is an extremely competitive market with homes selling in just 12 days on average. Buyers need pre-approval letters ready before making offers.
Sale-to-List Ratio
Homes in 07041 are selling 5.5% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
The median home in 07041 at $1,450,000 exceeds the 2026 conforming loan limit of $1,209,750 by $240,250. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Loan limits in 07041 are set at the county level.
2026 Loan Limits — Essex County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $1,209,750 | $1,249,125 |
| 2 Units | $1,548,975 | $1,599,375 |
| 3 Units | $1,872,225 | $1,933,200 |
| 4 Units | $2,326,875 | $2,402,625 |
Affordability Snapshot — Zip 07041
To purchase the median home at $1,450,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $11,259.
Monthly Payment
$11,259
Income Required
$482,547
Principal & Interest
$8,934/mo
Down Payment (5%)
$72,500
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 07041.
Estimated Monthly Payment
$9,124
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