07104 — Essex County, New Jersey Market Snapshot
Housing market data for zip code 07104 in Essex County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
15 sales in 2026 (year to date)
Median Sale Price
$630,000
Days to Sell
128
Homes Sold
15
Inventory
36
Sale-to-List
102.6%
New Listings
30
Price/SqFt
$230
Pending Sales
21
Conforming Loan Available
Most homebuyers in 07104 can comfortably use conventional financing. The median home price of $630,000 is well below the 2026 conforming loan limit of $1,209,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
With homes sitting for 128 days on average, 07104 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
Homes in 07104 are selling 2.6% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 07104 can comfortably use conventional financing. The median home price of $630,000 is well below the 2026 conforming loan limit of $1,209,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 07104 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 07104
To purchase the median home at $630,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $4,977.
Monthly Payment
$4,977
Income Required
$213,294
Principal & Interest
$3,882/mo
Down Payment (5%)
$31,500
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 07104.
Estimated Monthly Payment
$4,049
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