Fort Lee Real Estate Market Report — October 2026

Median Sale Price: $383,000

Fort Lee's residential real estate market entered October with a median sale price of $383,000, reflecting a modest year-over-year decline of 2.4% and a sharper month-over-month pullback of 21.4%. While the annual softening remains contained, the sequential drop signals a meaningful shift in market momentum as fall inventory levels rise and buyer competition eases.

Market Overview

October brought 134 closed sales to Fort Lee, a volume that underscores typical seasonal patterns for the region. The average days on market (DOM) reached 117 days—a notable extension from summer pace—indicating that homes are taking considerably longer to find buyers. This slowdown is reinforced by a sale-to-list ratio of 97%, meaning homes are selling for 3% below asking price on average, a departure from the stronger seller conditions seen earlier in the year.

Inventory levels have expanded significantly. Active listings now stand at 600 properties, translating to 13.4 months of supply—a substantial increase that fundamentally reshapes negotiating dynamics. For context, a market is generally considered balanced at 5–6 months of supply. At current absorption rates, it would take over a year to clear existing inventory, giving buyers meaningful leverage in price negotiations and inspection contingencies.

The year-over-year price decline of 2.4%, while modest in percentage terms, reflects broader regional cooling after a period of sustained appreciation. The steeper month-over-month contraction of 21.4% warrants attention, though seasonal factors—including typical autumn softness and holiday-season timing—likely account for much of this variance.

Price Segment Breakdown

Fort Lee's market shows distinct activity patterns across price tiers:

Price Segment	Sales Count	Median Price
Under $400K	69	$283,000
$400K–$700K	25	$510,000
Over $700K	40	$1,040,000

The under-$400K segment dominated October activity, accounting for more than half of all sales (69 of 134). This tier's median of $283,000 reflects strong buyer interest in entry-level and mid-range properties. The $400K–$700K band saw the fewest transactions (25 sales), suggesting a relative gap in this middle tier. Notably, the luxury segment (over $700K) generated 40 sales with a median of $1,040,000, indicating sustained demand at the upper end despite overall market softening.

What This Means for Owners

Current homeowners should recognize that the seller's market of recent years has shifted materially. With 13.4 months of supply on hand, pricing strategy is now critical. Homes priced competitively relative to recent comparable sales are more likely to attract serious offers; overpriced properties risk extended holding periods and eventual price reductions. The 97% sale-to-list ratio suggests that asking prices above market value will face resistance. Owners considering a sale should work with local professionals to establish realistic pricing and be prepared for longer marketing timelines than were typical in 2024 and early 2025.

What This Means for Buyers

October's market conditions favor purchasers. The 117-day average DOM provides ample time to conduct thorough inspections and due diligence. With homes selling 3% below asking price and inventory abundant, buyers have genuine negotiating room on both price and terms. The extended supply also reduces pressure to make rushed offers or waive contingencies. Buyers in the under-$400K range will find the most selection; those targeting the $400K–$700K range may encounter fewer options and should act decisively when suitable properties appear.

Key Metrics Summary

Metric	Value
Median Sale Price	$383,000
Sales (October)	134
Average Days on Market	117
Active Inventory	600
Months of Supply	13.4
Sale-to-List Ratio	97%
Year-over-Year Change	−2.4%
Month-over-Month Change	−21.4%

AI-generated estimates for informational purposes only. Not appraisals.

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Data sourced from NJMLS and GSMLS via Garden State AI.