A calm, neighbor‑to‑neighbor look at what’s actually happening
If you’ve been trying to make sense of the market this spring, you’re not alone.
Rockaway is behaving differently than last year — and even differently between the Borough and the Township.
Here’s what actually happened in March, in plain English.
1. Inventory is still low — but not in the same way everywhere
In Rockaway Borough, we had 11 active listings this March (down from 14 last year).
In Rockaway Township, we had 69 active listings (up from 57 last year).
So what does that mean?
- The Borough is still tight — not a lot of homes coming on.
- The Township has more movement, but not enough to feel “loose.”
Buyers feel that difference immediately.
2. Prices are holding — but the story depends on where you live
Rockaway Borough
The Borough saw a real jump this March:
- Avg sold price: $517,500
- Median sold price: $520,000
Last March, those numbers were $440,667 and $452,000.
This is what low inventory does — even with slower days on market, prices stay firm.
Rockaway Township
The Township softened a bit:
- Avg sold price: $513,658
- Median sold price: $527,000
Last March, those numbers were $546,114 and $562,500.
This doesn’t mean values are “dropping.”
It means the mix of homes that sold this month skewed toward the mid‑range.
3. Homes are taking longer to sell — and this is a year‑over‑year shift
This is the part most people feel — and it’s important to understand that this is a year‑over‑year change, not just a “slow month.”
Compared to March of last year:
- In Rockaway Borough, days on market rose from 17 days in March 2025 to 41 days in March 2026.
- In Rockaway Township, days on market rose from 23 days last March to 65 days this March.
These are meaningful increases.
It doesn’t mean the market is “slow.”
It means buyers are being more selective than they were last spring, and homes that aren’t positioned clearly are taking longer to find the right buyer.
4. Homes are still selling over asking — but the context matters (year‑over‑year)
Yes — the SP/LP percentages are lower than last year:
- Borough dropped from 110% → 105%
- Township dropped from 106% → 103%
But here’s the part that gets missed:
List prices themselves are starting higher than last year.
So even though the percentage over asking is smaller, the starting point is higher — which means sellers are still landing strong prices.
This is a year‑over‑year normalization, not a weakening market.
Buyers are still competing, just not with the same intensity we saw in early 2025.
5. What this means if you’re thinking about selling
Here’s the honest version:
- Homes that are priced and positioned clearly are still selling well.
- Homes that launch without clarity are sitting longer than expected.
- Buyers are comparing Rockaway to Denville, Morris Plains, and Morristown more than ever.
- The Borough and Township are behaving differently — and your strategy needs to reflect that.
If you’re planning to sell this spring or summer, the decisions you make before you list will shape how your home performs.
6. What this means if you’re buying
You’re not imagining it — the Township has more options than it did last year.
The Borough is still tight.
And the best homes in both areas move quickly when they’re priced right.
This is a market where:
- preparation matters
- timing matters
- clarity matters
- and knowing when not to compete matters
If you want a clear, local read on your home’s value
I can give you a grounded, no‑pressure breakdown based on:
- your neighborhood
- your home’s condition
- current buyer behavior
- and what’s actually selling right now
👉 Get your personalized Rockaway home value
