Summit, NJ Housing Market

$1,330,428

10.7% 1-yr

The average Summit, NJ home value is $1,330,428, up 10.7% over the past year. (Updated on 2/28/2026)

What is the Zillow Home Values Index?

Zillow Home Value Index (ZHVI), built from the ground up by measuring monthly changes in property level Zestimates, captures both the level and home values across a wide variety of geographies and housing types.

Learn more about the Zillow Home Value Index

Summit Key Takeaways

Typical Home Values: $1,330,428

1-Year Value Change: +10.7%

(Data through February 28, 2026)

Summit Housing Market Overview

1-Year Market Forecast: --

For Sale Inventory: 20 (February 28, 2026)

New Listings: 7 (February 28, 2026)

Median Sale to List Ratio: --

Median Sale Price: --

Median List Price: $1,394,000 (February 28, 2026)

Percent of Sales Over List Price: --

Percent of Sales Under List Price: --

Median Days to Pending: --

(Metric availability is based on market coverage and data)

How does this data help me?
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.

Neighborhoods in Summit

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Summit Rental Market Trends

Average Rent: $2,929 (February 28, 2026)

National Average Rent: $1,895 (February 28, 2026)

Month-Over-Month Change: -1.9% (February 28, 2026)

Year-Over-Year Change: 7% (February 28, 2026)

How does this data help me?
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.