Unshakable ZIP Data 07940 | Madison, NJ Housing Market
Madison · Morris County · New York-Newark-Jersey City, NY-NJ-PA metro · New Jersey · Data updated June 19, 2026
The median sale price in ZIP 07940, Madison, New Jersey is $1,433,087 at $586 per square foot. 37 single-family homes sold in the latest period, up 19.6 percent from a year earlier. Homes sit a median of 16 days on market with 1.3 months of supply. Sellers are getting 112.0 percent of list price and 69.5 percent of homes sold above asking.
Seller's market. No room for sloppy offers.
Value anchors
| Metric | Value | Year over year |
|---|---|---|
| Average single-family value | $1,110,530 | |
| Average price per sq ft | $454 | |
| Median sale price | $1,433,087 | |
| Median sale price per sq ft | $586 | |
| Median home size | 2,444 sq ft | |
| Median new listing price | $1,238,910 | +8.9% |
| National size rank | 7,000 |
Sales activity
| Metric | Value | Year over year |
|---|---|---|
| Homes sold | 37 | +19.6% |
| Median days on market | 16 days | |
| Months of supply | 1.3 months | |
| New listings | 45 | -6.9% |
| Active listings | 64 | +13.9% |
| Pending sales | 49 | +39.0% |
Pricing power
| Metric | Value | Year over year |
|---|---|---|
| Average sale-to-list ratio | 112.0% | +1.8 pts |
| Share sold above list | 69.5% | +1.7 pts |
Bedroom value anchors
Average values by bedroom count. Value anchors for orientation, not appraisals.
2-bedroom
$707,749
3-bedroom
$931,374
4-bedroom
$1,267,009
5-bedroom
$2,130,834
These figures describe the single-family market for Madison, New Jersey ZIP 07940. They are market context, not a substitute for sold comps or a formal appraisal.