Published October 11, 2026 in Market Update

One part of the market is still moving fast and over asking

By Stacey Farinacci

Real estate, Primary market

Freddie Mac put the average 30-year fixed rate at 7.40% as of October 8, 2026. That is the headline most people see. But the Real Estate Data Aggregator counted homes in ZIP 08730 selling in a median of 16 days, with 63.2% going above list price. That gap between the rate story and the local story is the one that matters for your next move.

These numbers cover the three months ending August 31, 2026. They are real counts of homes sold in this market, not national averages.

The tightest spot: ZIP 08730

The Real Estate Data Aggregator counted only 9 homes for sale in 08730 during that period. That is down 40% from a year before. Supply fell, and buyers felt it.

The Real Estate Data Aggregator shows the median sale price in 08730 reached $1,485,000, up 48.5% from a year before. That jump reflects a very small pool of homes, so one sale can move the number. Still, sellers here are clearly getting strong results.

Two more ZIPs where most homes sold over asking

ZIP 07762 and ZIP 07722 also had more than half of homes sell above list, according to the Real Estate Data Aggregator. That is worth knowing if you own in either area.

ZIP 07762 had 66.7% of homes sell above list, the Real Estate Data Aggregator shows. That is up 20.5 points from a year before. But months of supply there rose to 3.1, so not every home moved quickly. Pricing still mattered.

In 07722, the Real Estate Data Aggregator counted 53.6% of homes selling above list. The median sale price was $1,825,000, up 25.9% from a year before. Median days on market was just 16 days.

The rate picture: why this market is still moving

Freddie Mac reported the 30-year fixed rate averaged 7.40% as of October 8, 2026. That is not a small number. Nationally, the National Association of Realtors reported 4.9 months of supply, the highest level in over ten years. This market is not the national market.

Realtor.com reported that price cuts hit their highest September readings since 2018, nationally. Here, the tightest ZIPs are still seeing homes sell over asking. That contrast is real, and it is ZIP by ZIP.

Where the market is softer

Not every part of this market is tight. The Real Estate Data Aggregator shows ZIP 08738 had a median of 76 days on market, up 41 days from a year before. Months of supply there reached 6.6. Only 7.7% of homes sold above list. That is a very different story from 08730.

ZIP 08723 and 08724 saw median prices dip about 1% from a year before, the Real Estate Data Aggregator shows. More homes came to market in both. Buyers there have a little more room. Sellers need to price carefully.

Speed: which ZIPs went under contract fastest

The Real Estate Data Aggregator counted half of all homes in ZIP 08736 going under contract within two weeks of listing. That share rose 14.4 points from a year before. In ZIP 07720, also 50% went under contract within two weeks.

What this means for sellers

In the tightest ZIPs, sharp pricing and clean presentation still matter a lot. The Real Estate Data Aggregator shows homes in 08730 averaged 103.6% of list price. In 07762, that figure was 104.7%. Leaving money on the table with a low list price is a real risk in these areas.

In softer areas like 08738, the same data shows homes averaging only 94.3% of list. Pricing too high there costs time, and 76 median days on market is a long wait.

What this means for buyers

Freddie Mac's 7.40% rate as of October 8, 2026 is real pressure on monthly payments. In ZIPs with 1.5 or 1.8 months of supply, there is not much room to wait or negotiate. In ZIPs with 3 or more months of supply, buyers have more options and more time.